Triangle Petroleum provides Q4 operations update and full fiscal year operating results:
Select Fourth Quarter and Full Fiscal Year 2014 Operating Results
- FY 2014 average daily production of 5,286 Boepd
- Q4 2014 average daily production of 7,254 Boepd
- January 31, 2014 exit rate production of 8,193 Boepd (21-day trailing average)
- Net proved reserves increased to ~40,300 Mboe as of January 31, 2014 (~40% PDP)
- Increased proved reserves SEC PV-10 to ~$678 mln
- Ended the year with ~$82 mln of cash and ~$205 mln drawn on credit facilities (90% E&P Segment, 10% RockPile Energy Services)Preliminary Consolidated Fourth Quarter Results
- WTI NYMEX ($/Bbl): $95.59
- Oil Differential ($/Bbl): ($15.98)
- Realized Oil Price ($/Bbl): $79.61
- Realized Oil Equivalent Price ($/Boe): $73.98
- RockPile Gross Profit (000's): $6,853
Stifel analysts: EOG Resources, which is reporting record oil and gas production and revolutionizing the U.S. energy position, is upped to $120 from $100.
From Motley Fool:
EOG Resources has bet its future on the Eagle Ford, which is looking like a smarter decision with each passing quarter considering the massive potential of the region. To put it into some perspective, EOG's current reserve potential is almost four times what the company initially thought when it discovered the play just four years ago. And, EOG is essentially doubling down on the Eagle Ford this year. It's planning to build as many as 520 net wells there during 2014.How does that compare with EOG in the Bakken. Through the end of the first calendar quarter, EOG had 34 new permits in the Bakken which puts it on track to add a paltry 136 wells this year. EOG's Eagle Ford wells are probably 10 - 15% better (maybe more) than Bakken wells in terms of production.
ObamaCare Results In Loss of Insurance For 1,800 Kids in New Jersey
Breitbart is reporting:
Obamacare's new mandated requirements killed New Jersey's low-cost children's insurance coverage plan, FamilyCare Advantage.
The plan, offered by Horizon Blue Cross Blue Shield of New Jersey, was designed for children whose parents make too much money to qualify for Medicaid and offered medical, dental, and vision coverage for just $144 a month.
The program, which was the first of its kind in the nation, was implemented six years ago and considered a model for others states seeking economical ways to provide quality coverage for kids from working class families.
Yet, since FamilyCare Advantage lacked things like mental health services, Obamacare deemed the children's 1,800 plans illegal and the program shuttered last week.
"This is enormously disappointing, said NJ state Sen. Joseph Vitale (D) who co-sponsored the bill that created the program. "It was $5 for doctor visits, $1 for pharmacy and no deductible or cost sharing."Many, many story lines. The biggest story line, something I've opined about for years: the biggest expense in medical care is not AIDS or the "big C" but mental health. Besides not offering mental health care coverage for children, it probably also did not cover costs associated with a pregnancy for the boys. The Democratic state senator will rail against the travesty but nothing will change. It's water under the bridge.