Exploration & Production | Quarterly / Earnings Reports
Osage Sets Up Wells at MissLime, Woodford Acreage
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Osage Exploration and Development, Inc.has reported financial results and results from operations for the three months ended March 31, 2013.
Strong Production Growth Driven by Nemaha Ridge ProjectOsage’s Nemaha Ridge Project delivered strong growth in crude oil and natural gas production during the first quarter of 2013. Companywide, net production for the quarter increased 202% to 21,625 barrels of oil equivalent (BOE), or average daily production of 240 BOE, compared to the three months ended March 31, 2012.
First Quarter Financial HighlightsOsage reported adjusted quarterly EBITDA of $1,408,128, 136% higher than the first quarter of 2012, and operating income of $700,141, a 53.6% increase year over year. The increase was primarily due to drilling successes and subsequent higher…
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