BEXP Beats Expectations -- Despite Horrendous Weather -- News Will Be Lost Due to Market Plunge -- Bakken, North Dakota, USA

BEXP beats by two cents.

Data points (some numbers rounded):

• Production overall increased by 80% year-over-year; 10% better than previous quarter
• Production in Williston Basin increased by 90% y-o-y; 10% better than previous quarter
• Average realized price for crude oil was $93.86 per barrel, which included a $3.15 per barrel cash loss due to crude oil derivative contracts
• Net income: 60 cents vs 16 cents

Remember: this was the quarter in which flooding, muddy roads, and shut-in wells had folks on the street (including me) opining that production would be down from the first quarter. Wow, was I wrong. This was true for most (all?) Bakken producers.

I think folks would find it hard to believe is BEXP and others could maintain this level of activity, increasing production 80% year-over-year for another year, but ...

A separate stand-alone post for update on BEXP operations follows. Why put all the good stuff in one post?