- Prospera Energy (PEI) achieved Q2 2022 revenue of $4.2 million
- This represents an 860 per cent increase over Q2 2021’s $437,572. The company said it was supported by robust commodity pricing
- The company realized a net income of $311,335 in Q2 2022 versus a net loss of ($502,721) in Q2 2021
- Prospera Energy Inc. (PEI) is up 7.69 per cent, trading at $0.07 per share at 9:25 am ET
Prospera Energy (PEI) achieved Q2 2022 revenue of $4.2 million.
This represents an 860 per cent increase over Q2 2021’s $437,572. The company said it was supported by robust commodity pricing.
Highlights:
- Realized average pricing of $125.78/boe in Q2 2022 vs. $63.82/boe in Q2 2021
- Reported positive operating netback of $1.75 million ($52.44/boe)
- Achieved positive EBITDA of $901,226 in Q2 2022, and $1,088,423 YTD 2022
- Reported cash flow from operations of $833,761 in Q2 2022 and $308,463 YTD 2022
- Realized net income of $311,335 in Q2 2022 versus a net loss of ($502,721) in Q2 2021
- Attained a net production rate of 368 boe/d in Q2 2022 versus 75 boe/d in Q2 2021
The company noted that although breakup weather conditions mitigated the activity level, it initiated and executed the horizontal re-entry pilots to align the upcoming drilling program.
Prospera is an oil and gas exploration, exploitation and development company focusing on conventional oil and gas reservoirs in Western Canada.
Prospera Energy Inc. (PEI) is up 7.69 per cent trading at $0.07 per share at 9:25 am ET.
