Hyperion Exploration Corp Releases Q3; Trading Near Yr Low
Hyperion Exploration Corp. (HYX.V), which is trading near a year low 44 cents, released its Q 2012 Highlights
- Record average production in Q3 2012 of 1,522 boe/d (64% light oil and NGLs), a 45% increase compared to the Q3 2011 production average of 1,050 boe per day (54% light oil and NGLs).
- Record Q3 2012 funds flow of $4.2 million or $0.08/share, a 69% year over year increase.
- Enhanced Niton/McLeod undeveloped land position via farm-in providing a combined total of 35,680 gross (32,508 net) acres of Cardium rights and future growth potential with an un-booked drilling inventory of 191 gross (172 net) light oil locations.
- Continued to achieve operating efficiencies, increasing field netbacks from $30.32 per boe in Q3 2011 to $34.84 per boe in Q3 2012.
- Reduced operating costs from Q2 2012 to $10.38/boe, a decrease of 12%;
- In Q3 2012, Hyperion expended total capital, including land acquisitions and work overs, of $3.6 million.
- Drilled 1 gross (0.89 net) Cardium light oil well in the Niton/McLeod area which was completed and tied-in in Q4 2012.
- Completed and tied-in 1 gross (0.85 net) Cardium light oil well in the Garrington area that was drilled in late Q2 2012; and
- Equipped and tied in 1 gross (0.5 net) Cardium light oil well in the Pembina area that was drilled late in Q1 2012.
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