Operational Updates | Quarterly / Earnings Reports
Storm Sees 2,815 BOE/d Lift in Canadian Production
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Storm Resources Ltd. has reported its Financial and Operating Results for the Three Months and Year Ended December 31, 2012.
2012 Fourth Quarter & Year-End Highlights: Fourth quarter production averaged 2,815 Boe per day which is a year-over-year increase of 260% or 55% on a per-share basis. Oil plus NGL production grew to represent 36% of fourth quarter production versus 19% a year ago. Average 2012 production grew 95% on a per-share basis to 2,254 Boe per day with 38% being oil plus NGL. Increased production was the result of two corporate transactions that closed in the first quarter of 2012, Bellamont Exploration Ltd. and Storm Gas Resource Corp. ("SGR"), and also from new horizontal wells in the Montney formation at Umbach. The Bellamont transaction added 1,253 Boe per day to…- ✓ Full news archive — U.S., Canada & international coverage
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