Pieridae Energy (TSE:PEA) has released an update.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Pieridae Energy has successfully sold its Goldboro assets and will use the proceeds, along with a private placement of common shares, to repay its high-interest bridge loan and reduce overall debt. Additionally, the company is shutting in some production due to low natural gas prices, signaling a strategic focus on its upstream and midstream operations. This series of moves aims to strengthen Pieridae’s financial position and provide a clearer investment profile for shareholders.
For further insights into TSE:PEA stock, check out TipRanks’ Stock Analysis page.
