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Marquee Energy Doubles Production at Michichi, Lloydminster
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Marquee Energy Ltd. has reported record funds flow from operations and production for the second quarter of 2014.
Highlights include: Achieved significant growth in both revenue and funds flow from operations in the second quarter of 2014. Revenue increased 19% to $25.6 million, compared to $21.6 million in Q1-2014 and $12.3 million in Q2-2013. Funds flow from operations increased 36% to $9.3 million, compared to $6.8 million in Q1-2014, and $4.4 million in Q2-2013. Increased production to average 5,035 boe/d (43% oil and NGLs) in the quarter, a 25% improvement over Q1-2014 and 138% higher than Q4-2013. Closed a $20.1 million bought deal equity financing on May 2, 2014 The Company incurred $5.2 million in capital expenditures in the quarter, mainly in the Company's core Michichi area…- ✓ Full news archive — U.S., Canada & international coverage
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