· Oil production increased 102% in the quarter which drove large increases in our revenues, EBITDAX and cash flow.§ Oil & gas sales of $155.7 million were up 44% over 2013’s second quarter.
§ EBITDAX of $121.3 million was 45% higher than 2013’s second quarter.
§ Cash flow from operations grew 63% to $107.5 million or $2.29 per share.
· Net income, excluding non-recurring items, was $5.9 million or 12¢ per share for the quarter.
· We drilled 21 successful Eagle Ford wells and put 19 new Eagle Ford shale wells on production in the quarter.
· Recent developments in our two new ventures – the East Texas Eagle Ford and the TMS include:
§ The first East Texas Eagle Ford well, the Henry A#1 was very successful with an initial production rate of 1,267 BOE per day.
§ Our acreage position in the Tuscaloosa Marine Shale has increased to over 60,000 net acres.
For stock certificate transfers, changes of
address or lost stock certificates, please
American Stock Transfer & Trust Company
59 Maiden Lane, New York, NY 10038
CONTACT INVESTOR RELATIONS
Requests for additional information
should be directed to:
Gary H. Guyton
5300 Town and Country Blvd.
Frisco, Texas 75034
(972) 668-8834 (direct)
(800) 877-1322 (toll free)