Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Yangarra Spins Bit at 6 Cardium Wells in 1Q; Eyes Lower Well Costs
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Yangarra Resources Ltd. has reported its 2013 financials and reserves. The company also recently initiated drilling operations on its 71st well onshore Alberta.
2013 Financial and Operating HighlightsDuring the year ended December 31, 2013 the Company completed the following significant milestones:
Average daily production was 2,206 boe/d, a 15% increase from 2012. Funds flow from operations were $26 million ( $0.21 per share - basic), a 76% increase from 2012. Earnings before interest, taxes, depletion & depreciation, amortization and changes in commodity contracts was $27 million . Operating costs, including $1.26 /boe of transportation costs, were $7.56 /boe. Operating netback of $36.18 per boe, a 42% increase from the $25.48 per boe reported in 2012. G&A costs of $2.06 /boe, which…- ✓ Full news archive — U.S., Canada & international coverage
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