Exploration & Production
Rosetta Reports Eagle ford Production Growth, Employs 65 Acre Well Downspacing
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Rosetta Resources Inc., today reported second quarter 2012 net income of $77.0 million.
Production for the quarter averaged 33.4 thousand barrels of oil equivalent per day ("MBoe/d"), up 25 percent from the same period in 2011 and down one percent from the prior quarter.
The year-over-year increase was driven by Eagle Ford shale production growth, which averaged approximately 32.2 MBoe/d for the second quarter of 2012, up from 21.6 MBoe/d for the same period in 2011.
Revenues for the second quarter of 2012 were $198.0 million compared to $111.6 million for the same period in 2011. Second quarter revenues excluding derivative activities were $118.3 million in 2012 and $109.2 million in 2011. For the quarter, 83 percent of revenue was generated from oil, condensate and NGL sales including…
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