Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/lightstream-announces-second-quarter-production-of.shtmlLightstream announces second quarter production of 46,045 boepd
Lightstream Resources Ltd. announces second quarter financial and operating results and to update our 2013 guidance.
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Lightstream Resources Ltd. announces second quarter financial and operating results and to update our 2013 guidance.
Second quarter production averaged 46,045 barrels of oil equivalent per day ("boepd") (82% light oil and liquids), a decrease of 6% from the first quarter of 2013 and an increase of 19% over the second quarter 2012.
Production for the first half of 2013 averaged 47,553 boepd, an 11% increase over the first half of 2012. Our operating netback for the second quarter was $50.08/boe, a slight increase over the first quarter of 2013. During the second quarter WTI averaged US$94.22/bbl.
Funds flow from operations was $168 million ($0.86 per basic share) for the quarter, representing a 5% decrease from the first quarter of 2013 and an increase of 39% over the second quarter of 2012.
Capital expenditures before acquisitions and dispositions totalled $117 million in the second quarter, resulting in 7 wells drilled, 20 wells placed on production and 14 wells in inventory at the end of the quarter.
