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Parallel Energy Trust Concludes 2014 Drilling
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Parallel Energy Trust has announced its financial and operating results for the three months ended June 30, 2014.
Second Quarter & Year-to-Date 2014 Financial and Operating Highlights Parallel recorded average daily production of 7,183 boe/day in the second quarter, consistent with the Trust’s expectations and its full year production guidance of 7,100 – 7,300 boe/day. Production consisted of approximately 65 per cent natural gas liquids and condensate. Parallel realized an average sales price (prior to hedging) of US$46.33 per boe, representing approximately 45% of the WTI benchmark price during the quarter, in line with the Trust’s expectations. Parallel generated funds from operations of $10.7 million ($0.20 per basic unit), which was slightly below the Trust’s expectations primarily…- ✓ Full news archive — U.S., Canada & international coverage
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