Exploration & Production | Quarterly / Earnings Reports
Argent Grows to Liquids Heavy Production in First Operating Year
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Argent Energy Trust has provided its financial and operating results for the quarter and nine months ended September 30, 2013.
Average Q3 production was 5,407 barrels of oil equivalent per day producing record cash flow from operations of $17.8 million. Current 30-day average production of over 6,500 boe/d (72% oil and NGLs) and the current production of approximately 7,200 boe/d reflect both successful Eagle Ford drilling and the impact of the recent acquisition of oil-weighted assets in Wyoming.
In addition the Trust successfully completed a planned gas well in South Escobas, Texas in October that is producing at approximately 4 million cubic feet per day. Argent confirms its average annual production guidance of approximately 5,700 boe/d and its projected 2013 exit production rate of…
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