Exploration & Production | Quarterly / Earnings Reports
PetroBakken Averages 49,078 BOE/d in Q1 Production
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PetroBakken Energy Ltd. has reported an operations update and to announce our first quarter financial and operating results.
Q1 Financial & Operating Highlights First quarter production averaged 49,078 barrels of oil equivalent per day (boepd) (82% light oil and liquids), a 4% increase over the fourth quarter of 2012. Our operating netback for the first quarter was $49.79/boe, a 5% increase from the fourth quarter of 2012. Funds flow from operations was $177 million ($0.92 per basic share) for the quarter, a 5% increase over the fourth quarter of 2012 due to higher average production and increased netback, and a 5% decrease from the first quarter of 2012 due to realized pricing. Capital expenditures before acquisitions and dispositions totalled $302 million in the first quarter…- ✓ Full news archive — U.S., Canada & international coverage
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