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Trinity boosts cash despite oil price fall in 2020
StockMarketWire.com
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Oil company Trinity Exploration & Production boosted its cash position in the third quarter of 2020 despite the falling oil price.
Trinity reported a cash balance of $22.2 million as of 30 September, up from $13.8 million on 31 December 2019.
The increase was driven by strong operating cash flow generation, the company said, despite the 36% reduction in the oil price versus the equivalent period in 2019.
Production levels remained robust during the third quarter, with volumes averaging 3,135 barrels a day. Over the first nine months of the year production averaged 3,232 barrels a day - a 9.8% increase over the corresponding period last year.
At 10:08am: (LON:TRIN) Trinity Exploration Production share price was +0.15p at 9p
Story provided by StockMarketWire.com
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