OAS results good but stock down?

[bobs]

Any thoughts

[dan_s]

I am updating the OAS forecast model now and will post it by 5PM CT.

Q2 production was slightly below my forecast but revenues were slightly higher due to higher realized prices than I used. I am expecting a significant increase in production during the second half now that the weather is better up there. - dan

Highlights for the second quarter of 2013, include:
•Increased average daily production to 30,171 barrels of oil equivalent per day ("Boepd"), a 48% increase over the second quarter of 2012. Average daily production was relatively flat as compared to the first quarter of 2013 and within the Company's guidance range of 29,000 to 31,000 Boepd.
•Increased revenue to $254.6 million in the second quarter of 2013, an increase of $105.5 million over the second quarter of 2012 and a sequential increase of $6.3 million over the first quarter of 2013.

[dan_s]

"Completion activity should increase in the third quarter as we work off the backlog of wells waiting on completion that resulted from pad drilling activities. We plan on completing 40 to 45 gross operated wells and expect production to range between 31,500 Boepd and 34,500 Boepd in the third quarter of 2013. We are also tightening our full year production guidance range to 31,500 Boepd to 33,500 Boepd. Lastly, based on encouraging data from our lower bench core work, we will spud two wells this quarter into the lower benches of the Three Forks - one in Indian Hills and one in North Cottonwood."