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Emerald Oil Tags 49% Production Increase; 5,687 BOEPD
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Emerald Oil, Inc. announced financial and operational results for the quarter ended September 30, 2015.
Highlights: Third quarter production of 523,202 BOE increased 49% as compared to 351,755 BOE in the third quarter of 2014. Daily production averaged 5,687 BOEPD, 17% above the midpoint and 14% above the high end of Emerald's third quarter 2015 guidance range; 2015 fourth quarter production guidance raised 500 Boe/d to 4,700 - 5,000 Boe/d; Reduction of per unit LOE costs during the third quarter of 2015 to approximately $12.96 per BOE, a decrease of 31% compared to the second quarter of 2015; Third quarter oil and natural gas revenue of $17.8 million, not including effect of settled derivatives; Third quarter Adjusted EBITDA of $5.9 million Third Quarter 2015 ProductionFor the third…
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