Exploration & Production | Operational Updates | Capital Markets | Capital Expenditure
Artek Touts Record Year; Solidifies 2013 Montney Plans
Print
|
Artek Exploration Ltd. reported a summary of its financial and operating results for the three months and year ended December 31, 2012.
Highlights: Increased average production to 2,768 boe/d, a gain of 17% over 2011 despite selling 218 boe/d early in the year, and exited 2012 at a record level of over 4,000 boe/d. Fourth quarter production rose to a new quarterly high of 3,339 boe/d, up 36% from the same period of 2011 and a 30% increase over the 2012 third quarter. Crude oil and liquids volumes grew 44% compared to the fourth quarter of 2011,to a record 1,480 bbls/d, of which 71% is oil and condensate, and represents 44% of total production. Reduced annual operating costs 13% to $10.13/boe from $11.61/boe a year ago, while fourth quarter operating expenses fell 26% to $9.25/boe…Finish this article — free account or subscription
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations
No credit card. Includes 15 days of full access to permits, deals, completions and presentations.
Already a subscriber? Log in