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Sep 30, 2020
Riley Exploration Q3 2020 Earnings Report
Tengasco reported a net loss for Q3 2020, with revenues decreasing due to lower oil prices and sales volumes. The company entered into a merger agreement with Riley Exploration-Permian, LLC.
Key Takeaways
Tengasco announced its Q3 2020 financial results, reporting a net loss of $813,000, or $0.08 per share. Revenues decreased to $765,000 compared to $1.2 million in Q3 2019, primarily due to lower oil prices and sales volumes. The company also announced a merger agreement with Riley Exploration-Permian, LLC.
Net loss of $813,000 or $0.08 per share in Q3 2020 compared to a net loss of $182,000 or $0.02 per share in Q3 2019.
Revenues decreased to $765,000 in Q3 2020 from $1.2 million in Q3 2019.
Average oil price decreased from $51.18 per barrel to $36.03 per barrel.
Entered into a merger agreement with Riley Exploration-Permian, LLC.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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