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Long Run Exploration's Cardium Aquisition Provides A Major Presence
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Long Run has announced second quarter financial and operational results. These results are on track to meet 2014 guidance in our first year operating under the dividend plus growth model. The Company remains focused on a long-term sustainable business plan.
Q2 2014 HighlightsGenerated funds flow from operations of $73.4 million ($0.54 per share), an 8% per share increase over $63.2 million ($0.50 per share) in the second quarter of 2013.
Production averaged 27,602 Boe/d, a 13% increase from 24,431 Boe/d in the second quarter of 2013.
Increased our monthly dividend by 5% from $0.0335 per share to $0.035 per share, starting with the June dividend payable in July. Second quarter 2014 dividends declared totaled $0.10 per share, or $14.5 million, with a basic payout ratio of 20%.
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