Exploration & Production | Quarterly / Earnings Reports
Renegade's Light Oil Ops Lift Production 114%
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Renegade Petroleum Ltd. has reported its first quarter 2013 financial and operational results.
Highlights: Achieved average production of 7,816 boe per day for the three months ended March 31, 2013, up 114 percent from the comparable quarter of 2012. Production consisted of 95 percent light oil and 5 percent natural gas and natural gas liquids; Increased funds flow from operations by 90 percent to $27.4 million in the first quarter of 2013 from $14.4 million in the first quarter of 2012; Paid cash dividends of $11.7 million or $0.01917 per Renegade share per month ($0.23 annualized) in the first quarter of 2013; Disposed of non-core petroleum and natural gas properties for net proceeds of approximately $12.8 million; Brought 22 gross (22.0 net) Viking wells on stream in west central…- ✓ Full news archive — U.S., Canada & international coverage
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