Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Cub Tags 1,995 BOE/d in Production; Talks Suspended Drilling
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Cub Energy Inc. reported its audited annual financial and operating results for the year ended December 31, 2014. All dollar amounts are expressed in United States Dollars.
This update includes results from KUB-Gas LLC, which Cub has a 30% ownership interest, and Tysagaz LLC, Cub's 100% owned subsidiary.
Operational Highlights Production averaged 1,995 boe/d (98% natural gas) for the year ended December 31, 2014, representing a 29% increase from 1,542 boe/d in 2013.Exit rate of 2,407 boe/d at December 31, 2014 for a 16% increase over the 2013 exit rate of 2,070 boe/d.
Current production of approximately 1,524 boe/d, which has been negatively affected by the suspension of drilling activities and reinvestment at KUB-Gas during the last twelve months and also from recent government…
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