G2 Energy Corp (CSE:GTOO, OTC:GTGEF) provided an operational update highlighting its activities and production figures for June 2024.
Despite encountering additional work and repairs during its workover program, impacting June production totals, the company said it remains optimistic about achieving anticipated production levels once these activities are completed.
Throughout May and June 2024, G2 Energy, under its operator's guidance, continued its workover program, encountering unforeseen repairs that caused a delay in production ramp-up. During the month of June, G2 Energy produced 2,126.60 barrels of oil equivalent (BOE).
The company sold 1,832.62 barrels of oil, generating gross revenue of US$137,588. After deducting estimated costs, G2 Energy's net revenue from oil sales amounted to US$99,534.
Additionally, the company held 460 barrels of oil in inventory pending sale at the end of the month.