Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update | Capital Markets | Private Equity Activity
Long Run Talks Q4; Maintains Focus on Montney, Viking Projects
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Long Run Exploration Ltd. has reported its financial results for the fourth quarter and year ended December 31, 2013 and year end reserve results.
2013 Highlights: Long Run's funds flow from operations for 2013 was approximately $230 million ($1.83 per share, diluted), an increase of 78 percent over 2012. Production averaged 25,094 boe per day for 2013, weighted approximately 53 percent to crude oil and liquids, an increase of 90 percent from 2012. Net earnings in 2013 were $24.3 million ($0.19 per share, diluted) compared to net loss of $42.7 million in 2012 ($0.47 per share, diluted). Net income in 2013 reflects the higher funds flow from operations, partially offset by a $48.3 million increase in depletion expense associated with the higher production volumes. The net earnings in 2013…- ✓ Full news archive — U.S., Canada & international coverage
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