Exploration & Production | General | Quarterly / Earnings Reports
Crocotta Tags 8,836 BOE/d in Cardium Production
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Crocotta Energy Inc. has reported financial and operating results for the three months ended March 31, 2013.
Highlights: Increased production 31% to 8,836 boe/d in Q1 2013 from 6,752 boe/d in Q1 2012 Increased funds from operations 32% to $17.1 million in Q1 2013 from $13.0 million in Q1 2012 Increased bank credit facility to $140.0 million from $100.0 million Completed an additional 6.4 net successful wells at Edson, AB Subsequent to Q1 2013, signed agreements with Alliance and Aux Sable which will enhance netbacks at Edson, AB Operational UpdateIn Q1 2013, Crocotta spent $32 million of its 2013 capital budget of $100 million that included completing 1.6 net liquids-rich Bluesky horizontal wells and 4.8 net Cardium horizontal oil wells and construction of certain infrastructure…
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