Markets

Petrobakken Grows Earnings in Q4, Beats Revenue Estimates

A generic image of money and a calculator
Credit: Shutterstock photo

PetroBakken 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.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More