Bass Oil has reported an increase of 7 per cent in oil production, resulting in strong revenue and oil production for the month of April.
The company’s total daily oil production averaged 328 barrels of oil per day (bopd), a rise on March levels.
In its Cooper Basin operations, Bass recorded its highest monthly oil sales and production with 3830 barrels produced and 3234 barrels sold.
Elsewhere, at its Indonesian operations, the company reported a daily oil production averaging 365 bopd, a 5 per cent increase over March production levels.
Bass’ net production at the Tangai-Sukananti Oil Field reached 6021 barrels with 6039 barrels sold.
In revenue, the company recorded $810,322 in total sales revenue, a 24 per cent increase.
Earlier this year, the company announced its focus to become a mid-tier oil and gas producer.
That came after Bass Oil reported strong revenue growth in 2022, leading to a net profit after tax (NPAT) of $42,593 across the 12 months.
It was the company’s second NPAT in the last five years, and came from $5.72 million in oil revenue during 2022, a 95.6 per cent increase from 2021.
Bass Oil also produced 124,501 barrels of oil, up 54 per cent from the previous year.
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