Exploration & Production | Quarterly / Earnings Reports
BNK Focuses on Tishomingo Caney in Q3; Talks Polish Permits
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BNK Petroleum Inc. has reported its third quarter 2013 financial and operational update.
Highlights: Drilled and fracture stimulated the Dunn 2-2H and Hartgraves 5-3H wells in the Caney formation in the Tishomingo Field In August, commenced drilling of the fourth Caney well in the 2013 drilling program, the Barnes 7-2H well, which is expected to start flowing back in November At quarter end, cash and marketable securities totaled $73.4 million and working capital was $54.0 million Production started increasing, post Woodford Sale, and averaged 302 BOEPD in the quarter Oil and gas revenues started increasing post Woodford Sale, and totaled $1.6 million for the quarter Loss of $2.4 million versus loss of $4.3 million in the third quarter of 2012 G&A decreased by $0.7 million due to…Finish this article — free account or subscription
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