Exploration & Production | Quarterly / Earnings Reports
Pine Cliff Sees Results From Acquisitions Rather than Development
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Pine Cliff Energy Ltd. has announced its third quarter financial and operating results.
Highlights Closed two significant acquisitions. The first acquisition was an additional interest in the Monogram unit on July 24, 2013 which added approximately 1,600 boe/d of production. The second included the purchase of additional interests in, and more importantly the assumption of operatorship of, our Southern Alberta and Southern Saskatchewan assets on August 30, 2013. This acquisition added approximately 850 boe/d of production; Achieved record oil and gas sales volumes of 5,784 boe/d, a 546% increase over the same period in 2012, mainly as a result of our acquisitions Business Strategy and EnvironmentPrices have increased to an average price of $3.25 per mcf in October but remain volatile…
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