06:12 AM EDT, 03/19/2024 (MT Newswires) -- Logan Energy Corp. ( LOECF ) , which fell 2.5% to near 52-week lows yesterday, overnight Monday reported fourth-quarter 2023 adjusted funds flow of $15.4 million, up 198% from the third quarter of 2023.

The company achieved production of 7,515 barrels of oil equivalent per day on average for the fourth quarter of 2023, up 39% from the previous quarter.

As of Dec. 31, 2023, Logan's proved developed producing (PDP) reserves are 9.9 million boe, total proved (TP) reserves are 43.3 million boe and total proved plus probable (TPP) reserves are 74.8 million boe.

The before-tax net present value (NPV) of reserves, discounted at 10% was about $51.3 million on a PDP basis, $192.6 million on a TP basis and $393.0 million on a TPP basis.

In addition, the company's lender increased the authorized borrowing amount available under the credit facility to $50.0 million from $15.0 million, effective March 18.