Exploration & Production | Top Story | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Artek Evaluating Montney Strategy; Talks Upcoming Well Projects
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Artek Exploration Ltd. has reported summary of its financial and operating results for the three months and year ended December 31, 2013.
2013 Financial & Operating Highlights Increased annual average production to 3,697 boe/d, a gain of 34% over 2012. Fourth quarter production rose to a new quarterly high of 4,025 boe/d and was up 21% from the same period last year. Improved annual crude oil and liquids volumes 24% to 1,374 bbls/d, of which 73% was oil and condensate, representing 37% of total production for the year. Increased proved plus probable reserves 43% to 42.5 mmboe, highlighted by a 48% increase in proved plus probable crude oil and liquids reserves to 10.8 mmbbls, and grew proved reserves 25% to 21.4 mmboe. Replaced 2013 production of 1,349.5 mboe by 4.2 times and 10.6…- ✓ Full news archive — U.S., Canada & international coverage
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