Corporate press release:
For the first quarter, the Company posted a net loss of $8 million, or
$0.06 per diluted share (all per share amounts are on a diluted basis).
Net income for the first quarter includes a net unrealized loss on
commodity derivatives of $111 million ($69 million after-tax), or $0.51
per share. Without the impact of this item, net income for the first
quarter of 2013 would have been $61 million, or $0.45 per diluted share.
Another indication of the "2013 Helms' surge"?
Record wells completed in the Williston Basin with average gross 24-hour
initial production rates of more than 3,100 boepd in the Bakken
formation. Completions in the Three Forks formation yielded average
gross 24-hour initial production rates of approximately 2,400 boepd.
Company raised its 2013 year-over-year production growth estimate to 25%
compared to original estimate of 15%.
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