Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Madalena Optimizing Domestic Production
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Madalena Energy Inc. has announced the filing on SEDAR of the unaudited interim consolidated financial statements and related Management's Discussion and Analysis for the three months ended March 31, 2014.
First Quarter 2014 Highlights and Outlook Current production is approximately 1,600 boe/d; Q1 - 2014 production averaged 1,141 boe/d, an increase of 31% from Q1-2013; Operating netbacks averaged $29.61, an increase of 93% from Q1 -2013; Capital expenditures were $12.5 million or 26% of Madalena's $48 million 2014 capital budget. Expenditures for the balance of the year will be directed to a combination of high impact horizontal wells in the Sierras Blancas light oil play, unconventional Vaca Muerta shale wells, re-entries for unconventional reservoirs at Curamhuele and horizontal…- ✓ Full news archive — U.S., Canada & international coverage
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