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Sabine Talks Eagle Ford Wells; Texas Ops Update

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Sabine Talks Eagle Ford Wells; Texas Ops Update

Sabine Oil & Gas LLC reported its third quarter 2014 financial and operational results.

Key Third Quarter Results: Excluding the effects of the North Texas property divestiture in late 2013, the average daily production in the third quarter of 2014 increased by 28% to 211 MMcfe/d compared to the same period in 2013 on a pro forma basis. Pro forma oil production increased by 95% to approximately 6,600 Bbl/d over the same period in 2013. Adjusted EBITDA for the third quarter of 2014 was $88.1 million, representing a 26% pro forma increase over the same period in 2013. The Company executed additional oil hedges for 1,600 Bbl/d for the remainder of 2014 (October-December) and calendar year 2015 at $90.82/Bbl and $89.22/Bbl, respectively. Subsequent to the end of the third quarter, the…
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Gulf Coast - South Texas News