Exploration & Production | Drilling / Well Results | Quarterly / Earnings Reports
BNK Adds Wells at Tishomingo; Slashes Poland Activity by 35%
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BNK Petroleum Inc. has reported its second quarter 2013 results.
Second Quarter Highlights: Drilled and fracture stimulated the Barnes 6-3H and Dunn 2-2H wells in the Caney formation in the Tishomingo field In July started drilling the third Caney well in the 2013 drilling program, the Hartgraves 5-3H well. Cash and working capital totaled $90.4 million and $90.5 million respectively at June 30, 2013 Closed the sale of the Tishomingo field, excluding the Caney and Upper Sycamore formations, in April 2013 for $147.1 million (which includes $560,000 of net operating profit for the first 18 days of April 2013) Paid down the credit facility from $41 million to $100,000 in connection with the sale Settled all the financial derivative contracts in April 2013 in connection with the sale Capital…Finish this article — free account or subscription
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