Clearview Resources Ltd. has announced its financial and operational results for the third quarter of 2024, showcasing significant growth in oil production and a solid financial position despite challenges in natural gas prices.
For the three months ended September 30, 2024, Clearview reported:
| Financial Metrics | Q3 2024 ($ thousands) | Q3 2023 ($ thousands) | % Change |
|---|---|---|---|
| Oil and Natural Gas Sales | 5,383 | 5,774 | (7) |
| Adjusted Funds Flow | 619 | 1,143 | (46) |
| Cash Provided by Operating Activities | 1,015 | 43 | 2,260 |
| Net Earnings (Loss) | (1,256) | (932) | 35 |
In terms of production, Clearview experienced a slight decrease in total production volumes:
During the quarter, Clearview made strategic decisions to enhance its operational efficiency:
As of September 30, 2024, Clearview's financial position remains robust:
Clearview Resources is focused on enhancing shareholder liquidity and is actively pursuing strategic acquisition opportunities. The company aims to leverage its improved financial position to explore growth avenues, including potential acquisitions and internal development plans. Clearview's management remains optimistic about future production growth and financial performance, emphasizing their commitment to shareholder value.
Clearview's interim financial statements and management discussion are available on their website and SEDAR+ for further details on their performance and strategic direction.
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