The company has decided to concentrate on its most productive asset, the Pine Mills field in East Texas, divesting less profitable assets in West and South Texas to streamline operations and improve returns.
NTOG aims to revitalize idle wells and utilize advanced 3D seismic technology to identify new drilling locations, targeting a significant increase in oil production.
By reducing general and administrative expenses and leveraging local advantages in Texas, such as stable fiscal terms and lower operating costs, the company aims to boost revenue and shareholder value efficiently.
By Mark Fairbairn Recorded 14/6/2024
