Scandoil  

Marquee Energy announces record production for the third quarter of 2014


Published Nov 17, 2014
Marquee Energy Ltd.

Marquee Energy Ltd. announces record production and funds flow from operations for the quarter ended September 30, 2014.

Financial and Operational Highlights

• Achieved record production of 5,143 boe/d, an increase of 140% from the same quarter in 2013. • Achieved a 50% increase in funds flow per share in the third quarter of 2014 versus the third quarter of 2013. Funds flow from operations increased 11% to $10.3 million ($0.09 per share), compared to $9.3 million ($0.08 per share) in the second quarter of 2014, and $3.1 million ($0.06 per share) in the third quarter of 2013. • Enhanced balance sheet strength in the quarter. The Company's annualized third quarter debt-to-cash flow ratio has improved from 4.0 in 2013 to 1.3 in 2014. The company's net debt at the end of the third quarter was $54.7 million. • Reduced field operating costs in the third quarter of 2014 to less than $15/boe from $23.51/boe in the same quarter of 2013 and $19.66/boe in the second quarter of 2014.

Tags: Marquee Energy Ltd.




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml