Yangarra Resources Reports Q1 Financial Dip

Yangarra Resources (TSE:YGR) has released an update.

Yangarra Resources Ltd. has reported a 19% decrease in funds flow from operations in Q1 2024 compared to the same period last year, with adjusted net debt reduced by $9.5 million. The company’s oil and gas sales dropped by 18%, with a net income fall of 39%, amidst an average production decline of 10%. Despite these challenges, Yangarra remains focused on reducing bank debt to $80 million and has confirmed a $130 million credit facility with extended repayment terms.

For further insights into TSE:YGR stock, check out TipRanks’ Stock Analysis page.