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Sabine to Cut Eagle Ford Activity, Spending; Edits Forest Oil Deal

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Sabine to Cut Eagle Ford Activity, Spending; Edits Forest Oil Deal

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

Key Second Quarter Results: Increased average daily production by 26% to 206 MMcfe/d in the second quarter of 2014, from 164 MMcfe/d in the same period of 2013. Excluding the effects of the North Texas property divestiture in late 2013, the average daily production in the second quarter of 2014 increased by 45% compared to the same period in 2013 on a pro forma basis.  Oil production increased by 56% to 5,200 Bbl/d over the same period in 2013. Average daily production increased by 11% compared to the first quarter of 2014. Oil and natural gas liquids production volumes comprised 51% of revenues and 32% of total production. Liquids revenues and production for the quarter increased by 58% and 45%…
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Gulf Coast - South Texas News