Exploration & Production | Top Story | Quarterly / Earnings Reports
Lynden's Wolfberry Project Hits 1,039 BOE/d; Revenue Jumps 160%
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Lynden Energy Corp. has reported its fourth quarter 2013 results.
Highlights for the year ended June 30, 2013, compared to the year ended June 30, 2012, include:
Total production increased 190% to 379,227 boe (1,039 boe/d) Gross revenues, net of royalties, increased 160% to $18,726,413 Sale of 16 gross (7 net) Wolfberry Project wells, to BreitBurn Energy Partners L.P. for $25.1 million, effective December 1, 2012 Net earnings of $0.10 per common share (Prior Year - $0.04)Production for the Current Year totaled 379,227 boe (1,039 boe/d). Production for the three months ended June 30, 2013 totaled 96,971 boe (1,066 boe/d).
All of the production is attributable to the Wolfberry Project. The production mix, on a percent per boe basis, from the Wolfberry Project remains approximately 60%…
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