The Jupiter Energy Ltd (ASX: JPR) share price has soared into the green this morning, after the company released its quarterly activities report.
At the time of writing, Jupiter Energy shares are changing hands at 6.5 cents a piece, up 75.68% on the day.
Let's take a closer look at what the company posted earlier this morning.
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What is Jupiter Energy?
Jupiter Energy is an oil and gas exploration company that has appraisal, development and production interests for oil and gas in Kazakhstan.
According to its website, it owns "100% of an exploration permit in the Mangistau Basin, West Kazakhstan".
At the time of writing, it has a market capitalisation of $5.7 million.
Jupiter's quarterly results
In its report, the company exhibited unaudited sales revenue of approximately $1.196 million, up 6% from the previous quarter.
This revenue was based on the sale of approximately 32,000 barrels of oil, at an average price of US$29 per barrel.
In the previous quarter, it had realised sales of 34,000 barrels of oil, albeit at a lower price of US$25 per barrel.
Cash receipts for the quarter came in flat to the previous quarter at $1.4 million.
Jupiter also completed the transition of its Akkar North interests into commercial production during the quarter.
Additonally, the company laid out further details of its "strategic review" that has been underway since 2020. Under the review, the company is discussing the implementation of a "100% gas utilisation plan". If successful, the plan would see Jupiter start selling oil for export.
The board has ensured it will "keep shareholders informed of any material progress in this area" over time.
Investors have relished this morning's release as Jupiter shares continue to remain in the green in afternoon trading.
Jupiter Energy share price snapshot
The Jupiter Energy share price has posted a 35% return this year to date. It has also gained 320% over the past 12 months.
Jupiter shares have outpaced the S&P / ASX 200 Index (ASX: XJO)'s return of 22% over the past year.
The company's shares are trading off their 52-week high of 17 cents, but are aloft the 52-week low of 1.8 cents.
