RE:RE:Loading ATH and LOU, posts great net profit. Lucero's third quarter 2022:
- Average production of 10,904 boepd compared to 10,896 boepd in the second quarter of 2022 and 11,814 boepd in the third quarter of 2021;
- Record quarterly funds flow1 of $41.5 million, a 19% increase over $35.0 million in the previous quarter and 96% higher than $21.1 million in the same period in 2021;
- Funds flow per share1 of $0.06 compared to $0.05 in the second quarter of 2022 and $0.04 in the third quarter of 2021, with net income per share of $0.05 in the period, compared to $0.03 for the same period last year;
- Operating netback1 prior to hedging averaged $52.24 per Boe compared to $59.17 in the second quarter of 2022 and $37.02 per Boe in the third quarter of 2021;
- Invested capital of $24.9 million in exploration and development expenditures1, representing a prudent payout ratio1 of 60% on funds flow1 of $41.5 million; and
- Net debt1 reduced to $99.2 million at September 30, 2022, a decline of 8% from $107.5 million at June 30, 2022 and down 47% from $185.9 million at September 30, 2021.
https://www.newswire.ca/news-releases/lucero-energy-corp-announces-third-quarter-2022-record-financial-amp-operating-results-870071996.html