MANAGEMENTS DISCUSSION AND ANALYSIS FOR THE QUARTER ENDED JUNE 30, 2014 AND 2013
BARRELS OF OIL EQUIVALENT CONVERSIONS The oil and gas industry commonly expresses production volumes and reserves on a barrel of oil equivalent basis (boe) whereby natural gas volumes are converted at the ratio of six thousand cubic feet…
OIL AND GAS SALES Three months ended June 30, Six months ended June 30, 2014 2013 2014 2013 % % % Change % % % Change Light Oil 2,861 68 3,950 70 (28) 5,844 64 9,454 73 (38) NGLs 551 13 616 11 (11) 1,253 14 1,434 11 (13) Natural Gas…
OPERATING EXPENSES AND TRANSPORTATION COSTS Three months ended June 30, Six months ended June 30, 2014 2013 % Change 2014 2013 % Change Operating expenses 967 1,168 (17) 1,964 2,711 (28) Operating expenses (/boe) 14.81 11.18 32 13.89…
Finance expense increased in the quarter and six months ended June 30, 2014 from the same periods in 2013. The increases were due to a fee paid in the second quarter of 2014 to renew the bank facility and to higher interest rates for the…
Derivatives are recorded on the statement of financial position at fair value at each reporting period with the change in fair value being recognized as an unrealized gain or loss on the statement of loss. The following table outlines…
LIQUIDITY AND CAPITAL RESOURCES At June 30, 2014, Hyperions net debt was 25,430 (December 31, 2013 -31,840). Bank indebtedness was reduced by the net proceeds on the sale of the Chip Lake oil and natural gas assets of 3,087. In addition…