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Sabine Talks Texas Well Results Across Several Plays; Ups Production 31%

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Sabine Talks Texas Well Results Across Several Plays; Ups Production 31%

Sabine Oil & Gas LLC has reported its fourth quarter and full year 2013 financial and operating results.

Key 2013 Results and Events: Increased average daily production by 31% year-over-year to 175 MMcfe/d in 2013, up from 133 MMcfe/d in 2012. Oil production was 3,846 Bbl/d, a 343% increase over the prior year of 869 Bbl/d. Oil and natural gas liquids production volumes comprised 54% of revenues and 31% of total production, (increase of 219% and 252%, respectively, over 2012). Adjusted EBITDA for the year ended December 31, 2013 was $296.1 million, representing a 52% increase over 2012. Added approximately 25,000 net acres in the Eagle Ford through acquisitions, joint ventures and grassroots leasing, resulting in a year end Eagle Ford position of approximately 34,000 net acres. In the…
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Gulf Coast - South Texas News