Trinity Exploration’s Q2 Results and Acquisition Update

Trinity Exploration & Production (GB:TRIN) has released an update.

Trinity Exploration & Production, an independent E&P company, reported a decrease in Q2 2024 sales volumes to 2,522 barrels of oil per day (bopd), attributing the decline to postponed well activities, while maintaining their full-year sales volume guidance. The company also saw a reduced cash balance at the end of the period but managed to lower its overdraft borrowings. Additionally, Trinity is progressing with a planned acquisition by Touchstone Exploration Inc, with shareholder approvals in place and regulatory conditions satisfied, awaiting final court sanction.

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