Tenaz Energy Corp (TSE:TNZ) has released an update.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Tenaz Energy Corp. reported a decrease in Q1 2024 production by 8% from the previous quarter, attributing it to natural declines and operational downtime, but noted a 24% increase over the same period last year due to strategic drilling and acquisitions. The company also experienced a 47% drop in funds flow from operations compared to Q4 2023, primarily due to lower production, and spent $3.8 million on capital expenditures, mainly on well stimulation in the Netherlands. Additionally, Tenaz is set to acquire a gas plant and related assets, pending regulatory approval, which is expected to enhance its operational control and provide additional revenue opportunities.
For further insights into TSE:TNZ stock, check out TipRanks’ Stock Analysis page.
