Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Arsenal Maintains Focus on Bakken Ops; Hits 3,973 BOE/d Record
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Arsenal Energy Inc. has reported its Q4 and full year 2013 financial and operating results and its 2013 yearend reserves.
Highlights Production in 2013 was a record 3,973 BOEPD. Year/year proved developed producing reserves increased by 0.7% Oil and natural gas liquids at December 31, 2013 constitute 78% of proved plus probable reserves Arsenal's P+P PV10 net asset value is $13.03/share. Based on the 2013 production rate, Arsenal has a reserve life of approximately 10 years on a proved plus probable basis. Arsenal's P+P FD&A was $25.72 per boe in 2013. OperationsDue to the cut in the capital budget, Q4 2013 production showed only modest growth to 4,048 boe/d versus 3,935 boe/d for Q4 2012. By the end of the quarter differentials recovered and the Company restarted its capital program…
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