Credit: Shutterstock photoPetroBakken Energy Ltd. (PBN.TO) reported fourth quarter adjusted net earnings of $107 million, or $0.56 per share. Revenues were $296.6 million, better than consensus estimate of $283.2 million. Funds from operations were $168.3 million, or $0.88 per share.
In the same period last year, net earnings were $76.8 million, or $0.41 per share, on revenues of $366.9 million. Funds from operations were $231.4 million, or $1.24 per share.
The $675 million 2013 capital plan is expected to deliver an average daily production rate of 46,000 to 48,000 boepd and exit 2013 production of approximately 49,000 to 52,000 boepd.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
