Australis Oil & Gas Limited (ASX: ATS) Announces 2024 Financial and ESG Results
Financial Performance
Australis Oil & Gas Limited reported a sales revenue of US$19.4 million for 2024, representing an increase in EBITDA by 150% to US$2.5 million. The company ended the period with a cash balance of US$6.2 million and total debt of US$8.4 million. Production volumes were recorded at 254,000 barrels, an 8% decrease compared to 2023, while net debt stood at US$2.2 million as of December 31, 2024.
Environmental, Social, and Governance (ESG) Performance
The company achieved zero safety incidents over 3,722 workdays in 2024, maintaining a strong safety culture. Scope 1 emissions were reported at 0.073 mt CO₂e/boe. Australis’s proactive Safety Observation Suggestion (SOS) programme continues to effectively sustain this safety culture. Additionally, no reportable oil leaks occurred during the year, with five non-reportable spills all contained on production pads.
Operational Achievements
Australis successfully reduced workover frequency by 44% in 2024, significantly lowering operational costs. The company’s strategic focus on production efficiency has contributed to maintaining overall operating expenses. Fixed costs saw a marginal increase of 3%, while variable costs decreased through company-led savings initiatives.
Strategic Outlook
The company holds approximately 47,500 net acres in the TMS Core area, offering substantial growth opportunities with a mid-case recoverable estimate of 65 million barrels. Australis is positioned to expand its acreage and leverage its strategic location near midstream infrastructure and refineries.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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