04:27 PM EDT, 10/30/2024 (MT Newswires) -- Yangarra Resources ( YGRAF ) on Wednesday afternoon said its third-quarter profit and revenue fell year-over-year.

The Western Canadian oil and gas producer said it earned $3.96 million, or $0.04 per share, in the period, down about 65% from $11.49 million, or $0.12, in the year-prior quarter.

Revenue fell to $26.26 million from $45.41 a year ago.

The company said that average production was 9,257 barrels of oil equivalent per day for the quarter, down 24% from the same time in 2023.

"Yangarra started up the drilling program in late July after a period of reduced activity in the second quarter and expects a very active fourth quarter for bringing on new wells. Despite the reduced annual activity levels, the company will maintain relatively flat production for the year, excluding the third quarter, which was impacted by a longer-than-expected turnaround at a key third-party facility," the company said.

The company's shares closed unchanged at $1.03 on the Toronto Stock Exchange.