Exploration & Production | Quarterly / Earnings Reports
Argent Q1 Eagle Ford, Buda Ops Exceed Guidance
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Argent Energy Trust has reported its financial and operating results for the quarter ended March 31, 2013.
Argent is pleased to report that average Q1 production of 5,278 boe/d exceeded Q1 production guidance of 5,200 boe/d, including production from the Buda oil formation in select wells.
Current production is approximately 5,300 boe/d of which 61% is oil and NGLs. Argent confirms its 2013 forecast year average production rate of 5,500 to 5,600 boe/d.
Highlights for Q1 2013 Q1 2013 funds flow from operations of $15.3 million, or $0.32 per Unit, compared to Q4 2012 funds flow from operations of $7.4 million, or $0.21 per Unit. Q1 2013 gross revenue increased to $35.0 million, from $18.4 million in Q4 2012. Q1 2013 income of $5.3 million, or $0.11 per Unit, compared to Q4 2012 income of…- ✓ Full news archive — U.S., Canada & international coverage
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