Can InPlay Oil Corp. (TSX: IPO) achieve its production guidance for FY23?

Thu 21 Sep 23, 11:50 AM |

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Highlights

InPlay Oil Corp. (TSX: IPO) saw a 9% decline in its net debt to CAD 41.8 million in Q2 FY23.

Its revenue dropped by 40.4% in quarter, mainly because of decrease in volumes sold at a reduced realized price.

Based in Calgary (Alberta), InPlay Oil Corp. (TSX: IPO) is an oil development and production company involved in development, acquisition and exploration of petroleum and natural gas properties.

In Q2 FY23, InPlay Oil witnessed a fall of 9% in its net debt to CAD 41.8 million, as compared to CAD 46.2 million in the first quarter of the year. Also, the company’s net debt to EBITDA leverage ratio stood at 0.4x, as of 30 June 2023, versus 0.5x in the previous corresponding period.

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