Otto hails tough but successful year

OTTO Energy has marked a tough but productive year in its annual report, with production and reserves significantly higher than the previous year, despite the challenging impacts of the COVID-19 pandemic and the oil price crash.

Otto hails tough but successful year Otto hails tough but successful year Otto hails tough but successful year Otto hails tough but successful year Otto hails tough but successful year

The company hailed a 28% increase in production to 946,445 barrels of oil equivalent from its assets in the Gulf of Mexico, and an EBITDAX of US$20.9 million (A$29.