Exploration & Production
Cub Energy Exits 2013 with 2,070 BOE/d in Production
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Cub Energy Inc. has reported fourth quarter operational update including the seventh consecutive quarter of production growth, record quarterly production and a 2013 exit rate of approximately 2,070 barrels of oil equivalent (a 35% increase over the Company's 2012 exit rate).
Fourth Quarter UpdateAverage production from the Company's Ukrainian assets for the fourth quarter of 2013 was 1,687 boe/d, an 11.5% increase over third quarter production of 1,513 boe/d. Cub realised a significant increase in corporate production from the tie in of its first 100% working interest well, the Rusko-Komarovskye-22 late in the fourth quarter. Average production for 2013 was 1,562 boe/d (an increase of 29% over 2012 production of 1,210 boe/d).
During the fourth quarter Cub drilled, completed and brought…
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