Exploration & Production | Operational Updates
EnerJex Eyes Mississippian Expansion; Touts Results
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EnerJex Resources Inc. has detailed the results of operations for 2012.
Reserve Report Highlights:A summary of EnerJex's 2012 reserve report is included in its 10-K filing which reflects the following:
Record total proved reserves of 2.93 million barrels of oil (MMbbl), an 8% increase compared to the prior year. Record proved developed producing reserves of 1.55 MMbbl, a 164% increase compared to the prior year. Record total proved PV-10 value (present value of pre-tax future net cash flow discounted at 10% per annum) of $60.8 million, a 14% increase compared to the prior year. Record proved developed producing PV-10 value of $34.7 million, a 123% increase compared to the prior year. 220% of 2012 oil production was replaced by proved reserve additions. Financial and Operational…Finish this article — free account or subscription
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