Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update | Weather | Production Rates
Emerald Ramps Up Production Despite Weather Woes in Q1
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Emerald Oil, Inc. has reported financial and operational results for the quarter ended March 31, 2014 and increased and updated guidance for 2014.
Highlights: First quarter of 2014 production of 225,905 BOE, an average of approximately 2,511 BOEPD, an increase of 3% compared to the fourth quarter of 2013 and 136% compared to the first quarter of 2013; Reduction of per unit LOE costs during the first quarter of 2014 to approximately $11.59 per BOE, a decrease of 33% compared to the fourth quarter of 2013; First quarter of 2014 Adjusted EBITDA of $9.0 million; Adjusted net income attributable to common shareholders of $2.5 million or $0.04 per share (basic) for the first quarter of 2014 and net loss attributable to common shareholders of $1.7 million or $0.02 per share loss…- ✓ Full news archive — U.S., Canada & international coverage
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