Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update | Production Rates | Financial Results | Capital Markets
Osage Exploration Production Up 122%, Revenue 10%
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Osage Exploration and Development, Inc.has reported its operational and financial results for the quarter ended March 31, 2015.
Highlights: Production of 82,096 barrels of oil equivalent, 122% higher than the period ended March 31, 2014; Revenue from operations of $2.9 million; and, Adjusted EBITDA of $1.85 million, up 33.9% over the first quarter of 2014. Operational ResultsOsage’s oil production during the first quarter of 2015, net of royalties, was 53,467 BBLs, an increase of 31,137 BBLs, or 139.4%, over the three months ended March 31, 2014. On a Barrel of Oil Equivalent (BOE) basis, Osage’s quarterly production of 82,096 BOE was 122% greater than during the same period in 2014.
Management CommentsMr. Kim Bradford, Chairman and CEO of Osage Exploration: "With production growing…
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