Press release:
ERF announces strong 1Q14 results.
- funds flow increased 22% from the previous quarter (remember, the current quarter was hampered by all that bad weather that shut down clipboard-carrying bureaucrats in Washington, DC; apparently the same weather had less effect on the roughnecks working in the Bakken oil patch)
- average selling price: $91/bbl (1Q14) vs $78/bbl (1Q13)
- natural gas: 58% (1Q14) vs 52% (1Q13)
Press release from Magnum Hunter Resources pending. A headline suggests MHR production surged almost 60%.
Magnum Hunter misses by $0.02, beats on revs: Reports Q1 (Mar) loss of $0.15 per share, excluding non-recurring items, $0.02 worse than
the Capital IQ Consensus of ($0.13); total rev rose 98.2% year/year to
$107.4 mln; oil and gas sales +102% to $70.2 mln; rev consensus was
$98.47 mln consensus; adj. EBITDAX was $38.9 million, compared with
$20.6 mln last year.
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