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Argent Exits 2013 at 6,975 BOE/d; Details 2014 CapEx, Outlook
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Argent Energy Trust has reported its financial and operating results for the quarter and year ended December 31, 2013.
For December 2013, average production was 6,975 boe/d barrels of oil equivalent per day, of which 68% was oil and NGLs, while Q4 2013 production was 6,747 boe/d producing funds flow from operations of $18.3 million($0.31 per unit of the Trust) for the quarter. Funds flow from operations for the year was $64.6 million, or $1.22 per Unit. Certain non-cash charges were booked in Q4 2013 that resulted in a net loss for the year of $87.2 million, or $1.65 per Unit.
Argent confirms its average annual production guidance for 2014 of approximately 7,000 boe/d (for a year over year forecasted growth rate of 25%).
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