Capricorn returns to profit as revenue rises despite lower production
Capricorn Energy ($CNE) reported first-half pre-tax profit from continuing operations of $56.2 million, reversing a $7.5 million loss. Revenue increased 68% to $100.5 million. Production averaged 19,337 barrels of oil equivalent per day, below the prior year’s 20,342, meaning the revenue improvement should not be interpreted as a similar expansion in physical output. The company now expects full-year production above the 20,000-barrel midpoint of its existing 18,000–22,000 guidance range, suppor
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