Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Alberta, Williston Player Zargon Talks Year-End Results, 2014 Objectives
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Zargon Oil & Gas Ltd. has reported its fourth quarter and year-end 2013 results.
Highlights: Fourth quarter 2013 funds flow from operating activities of $12.15 million ($0.40 per basic share) were 26 percent lower than the $16.45 million ($0.55 per basic share) recorded in the prior quarter due primarily to significantly lower oil field price realizations from unfavourable Edmonton Par to West Texas Intermediate oil price differentials. As a result, Zargon's fourth quarter oil field price realizations of $73.40 per barrel were down 22 percent from the third quarter 2013 realized oil field price of $94.10 per barrel. Fourth quarter oil production averaged 4,625 barrels of oil and liquids per day, down four percent from the preceding quarter. Fourth quarter natural gas production averaged…- ✓ Full news archive — U.S., Canada & international coverage
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