Exploration & Production | Operational Updates | Quarterly / Earnings Reports
Arsenal's Bakken Ops Ramp Up Production, Cash Flow
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Arsenal Energy Inc. has released its Q4 and full year 2012 financial and operating results.
Q4 2012 is highlighted by an 18% increase in cash flow from operations to $10.0 million from $8.4 million generated in Q4 2011. The cash flow increase is primarily due to a 42% increase in light oil production.
FinancialCash flow from operations in the fourth quarter of 2012 totaled $10.0 million ($0.06 per share basic and diluted) up 18% from the fourth quarter of 2011. This increase of 18% from the comparable period in 2011 results from a 36% increase in quarter over comparative quarter production. Lower average commodity prices over the quarter resulted in a decline of 14% in the average price received per Boe and was the major contributor to a 17% decline in the operating netback. General and…
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