Exploration & Production | Government & Regulatory | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Cub Energy; Ukraine Unrest May Cause Future Operational Constraints
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Cub Energy Inc. has reported its audited financial and operating results for the year ended December 31, 2013.
In 2013, Cub achieved several key accomplishments including record production volumes and revenue and operational success on the Company's 100% working interest Rusko-Komarovske licence. Additionally, the fourth quarter of 2013 was the Company's seventh consecutive quarter of production growth.
The company also commented on its outlook in regard to the recent political developments involving Ukraine and Russia.
Operational Highlights Production averaged 1,542 boe/d (95% natural gas) for the year ended December 31, 2013 for an increase of 27% over 1,210 boe/d in 2012; Exit rate of 2,070 boe/d for the year ended December 31, 2013 for an increase of 35% over 1,531 boe/d in…Finish this article — free account or subscription
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