Crown Point Energy Inc. reported financial results with net cash outflow, operational success, and future investments

From GlobeNewswire: 2025-03-11 22:32:03

Crown Point Energy Inc. announced its financial results for Q4 2024, reporting a net cash outflow of $1.5 million and funds flow of $1.0 million. The company earned $19.6 million in oil and gas sales revenue with average daily sales volumes of 3,335 BOE. They also completed acquisitions and secured loans totaling $13.9 million. In the operational update, oil production in Santa Cruz Concessions and Tierra del Fuego Concessions showed promising numbers. Looking ahead, the company plans to invest approximately $28.2 million in capital spending for 2025. The audited financial statements will be filed soon for review.

In Q4 2024, Crown Point Energy Inc. reported an operating netback of $3.96 per BOE. The company’s total sales volumes for the period were 306,807 BOE, with oil production averaging 2,868 bbls per day. The company’s audited consolidated financial statements will be available on their website and through Canadian securities regulatory authorities. Crown Point Energy Inc. operates in Argentina and focuses on oil and gas exploration and development activities in various basins in the country.



Read more at GlobeNewswire: Crown Point Announces Unaudited Financial and Operating