Aradel: Buy, Sell or Hold?

AI Summary

Aradel reported production of 144,700 barrels of oil equivalent per day from January to September, about six times its level a year earlier and above its target. EBITDA reached ₦2.1 trillion, with a 53% margin and production costs of $7.9 per barrel; the company has raised its production target.

Aradel’s oil and gas business is booming. From January to September, it produced 144,700 barrels of oil equivalent per day, about six times last year’s level and above its own target, which it has now raised. Operating earnings (EBITDA) reached ₦2.1 trillion, a 53% margin. Each barrel cost just $7.9 to produce, and gas sales […] The post Aradel: Buy, Sell or Hold? appeared first on Nairametrics.