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Madalena Preps First Multi-Stage HZ Frac in Vaca Muerta
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Madalena Energy Inc. has announced its financial and operating results for the three months ended March 31, 2015.
Highlights($CDN unless otherwise specified)
In Q1–2015, Madalena's average realized prices in Argentina for crude oil and NGLs was $90.43/bbl and for natural gas was $5.30/mcf; Oil and gas production increased 215% to 3,586 boe/d compared to 1,141 boe/d in Q1-2014; Current production is approximately 4,000 boe/d (79% oil and NGLs); Realized a 22% increase in oil and gas revenue per boe to $74.78/boe compared to $61.38/boe in Q1-2014; Corporate operating netbacks increased 12% to $33.18/boe compared to $29.62/boe in Q1-2014; Argentina operating netbacks averaged $37.16/boe in Q1-2015; Funds flow from operations increased 68% and 27% to $6.0 million compared to $3.6 million…- ✓ Full news archive — U.S., Canada & international coverage
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