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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (4187)	2/12/2014 10:51:07 AM
From: Goose94	Read Replies (1) \| Respond to of 203013

DEE-T keeps on truckin' into 52 week highs, $2.44 Increased total proved reserves by 52 percent to 36.1 million barrels of oil equivalent ("boe") and total proved plus probable reserves by 43 percent to 61.7 million boe compared to December 31, 2012; -- Increased total proved reserve value (before income taxes, discounted at 10 percent) by 79 percent to $379.1 million and total proved plus probable reserve value (before income taxes, discounted at 10 percent) by 61 percent to $583.9 million compared to December 31, 2012; -- Achieved finding and development costs ("F&D"), including changes in future development costs ("FDC"), of $10.99 per boe for total proved reserves and $8.95 per boe for total proved plus probable reserves. Including acquisitions costs and disposition proceeds in the year, finding, development and acquisition costs ("FD&A"), including changes in FDC, were $11.66 per boe for total proved reserves and $9.43 per boe for total proved plus probable reserves; -- Realized a total operating netback(1) of $17.23 per boe providing a total proved plus probable recycle ratio(2) of 1.8:1; -- Realized an operating netback(1) for the Montney development of $24.56 per boe and achieved Montney FD&A costs, including changes in FDC, of $8.85 per boe(3) providing a proved plus probable recycle ratio of 2.8:1; -- Replaced 2013 production of 3.0 million boe by 7.2 times with total proved plus probable reserve additions (including revisions) of 21.6 million boe; -- Increased net asset value per share by 58 percent to $3.41 compared to December 31, 2012; and -- Finished completion operations at 13 - 30 - 60-22W5 achieving a final clean-up rate of approximately 2,381 boe/d. (1) Operating netback is calculated by subtracting royalties, operating and transportation costs from revenues. (2) Recycle ratio is calculated as operating netback per boe divided by FD&A costs, including FDC, per boe. (3) Capital invested of $70.4 million; change in FDC of $120.2 million; acquisition costs of $13.8 million; reserve extensions, improved recovery and technical revisions of 23.1 million boe.