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TORC Hits 100% Cardium Success; Spins Bit at Three Forks Well
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TORC Oil & Gas Ltd. has reported its financial and operating results for the three and nine months ended September 30, 2013.
Highlights: On September 9 th, established a new light oil core area through a significant acquisition of light oil assets in southeast Saskatchewan which was partially funded by a cornerstone investment by the Canada Pension Plan Investment Board of $170 million and a bought deal public offering of $242 million for total equity financing of $412 million . Production and cash flow related to the acquisition as well as shares associated with the financing are included for 22 days of the quarter; Increased production to 5,706 boepd in the third quarter of 2013 from 927 boepd in the third quarter of 2012; Third quarter 2013 represents TORC's 11th consecutive quarter…- ✓ Full news archive — U.S., Canada & international coverage
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