Canadian oil and fuel firm Petrus Assets Ltd. has adopted a dividend reinvestment plan that permits eligible shareholders to reinvest all or a part of their money dividends into further frequent shares.
Petrus stated that eligible shareholders who elect to reinvest their money dividends within the firm will get a 3 p.c low cost from the market value. Registered shareholders can take part within the dividend reinvestment plan by submitting a accomplished authorization kind to Odyssey Belief Co. by December 9, 2024, Petrus stated.
In the meantime, Petrus stated that its manufacturing averaged 9,184 barrels of oil equal per day in October, 68 p.c of which was pure fuel and 32 p.c whole liquids. Petrus stated that this can be a 17 p.c improve from the earlier month’s estimate, as volumes beforehand shut in as a consequence of a third-party facility outage in Ferrier have been introduced again on-line.
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The third-party facility resumed operations close to the final week of September, permitting volumes being briefly processed at Petrus’ Ferrier fuel plant to be redirected and enabling shut-in manufacturing to be introduced again on, the corporate stated. Nonetheless, problems delayed the restart of the power’s deep-cut system, leading to continued impacts on Petrus’ NGL recoveries. The deep reduce was returned to service in mid-October. At the moment, Petrus’ strategic reprocessing association resumed and NGL recoveries returned to pre-outage ranges, in line with the corporate.
Moreover, Petrus stated it started completion operations on not too long ago drilled wells which started in mid-November.
“The wells have been efficiently accomplished and are anticipated to be in manufacturing within the first week of December”, Petrus stated. Presently, Petrus is finalizing its 2025 capital funds and can replace subsequent yr’s technique and steerage within the new yr.
To contact the creator, electronic mail andreson.n.paul@gmail.com
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