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Independent Oil Gas
Sure, here is some general information about Independent Oil and Gas, Inc. (SLCO) listed on the US stock exchange:
Independent Oil and Gas, Inc. (SLCO) is a US-based energy company engaged in the acquisition, exploration, and production of oil and natural gas properties. The company focuses on developing its assets in the Permian Basin of West Texas and Southeast New Mexico.
As of December 2022, the company reported that its total estimated proved reserves were 61.4 million barrels of oil equivalent (MBoe), with 63% of these reserves being oil and 37% being natural gas. In addition, the company reported that its net production averaged 6,645 Boe per day in 2022.
Regarding earnings, Independent Oil and Gas, Inc. (SLCO) has faced financial challenges in recent years due to lower commodity prices. In its latest quarterly earnings report (Q3 2022), the company reported a net loss of $7.4 million, compared to a net loss of $17.8 million in the same period in 2021. The company's revenue also decreased from $23.2 million in Q3 2021 to $17.4 million in Q3 2022.
Regarding growth, Independent Oil and Gas, Inc. (SLCO) has been focused on increasing its production and reserves through strategic acquisitions and drilling programs. In 2022, the company completed the acquisition of certain Permian Basin assets from an undisclosed seller for $106.3 million. The acquisition added 14,800 net acres and 300 Boe/d of net production.
In summary, Independent Oil and Gas, Inc. (SLCO) is a small-cap energy company focused on developing its assets in the Permian Basin. While the company has faced financial challenges in recent years, it continues to focus on growing its production and reserves through strategic acquisitions and drilling programs.
However, it is important to note that the company's stock performance has been volatile in recent years, and investors should conduct thorough research and consider various factors before making any investment decisions. Factors to consider when evaluating Independent Oil and Gas, Inc. (SLCO) include industry trends, commodity prices, financial performance, and competitive positioning, among others.