Exploration & Production | Quarterly / Earnings Reports
Angle Averages 4,000 BOE/d in Q1 Cardium Production
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Angle Energy Inc. has reported the financial and operating results for the three months ended March 31, 2013.
Highlights: Funds from operations for the first quarter were $23.5 million or $0.29 per diluted share. This is an absolute increase of 2.4 percent, or 4 percent per diluted share, compared to the fourth quarter of 2012. Light crude oil and condensate production grew to average 3,328 bbls/d in the quarter representing an 11 percent increase compared to the fourth quarter of 2012. Excluding the 428 bbls/d of fourth quarter light crude oil and condensate production relating to the disposed non-core Edson natural gas assets, a 31 percent increase quarter overquarter was realized. Operating netback in the first quarter was $29.10/boe, a 46 percent improvement over the average…
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