oedv
Re: oedv
Good but not great. Slightly less than my forecast model. I am leaving for Dallas soon. I will take a hard look at OEDV this weekend. - Dan
Oil Sales
Oil Sales were $2,916,342, an increase of $1,654,292, or 131.1%, for the three months ended September 30, 2013 compared to $1,262,050 for the three months ended September 30, 2012. Oil sales increased due to an increase in the number of barrels sold and an increase in the average price per barrel. In the United States ("US"), we sold 24,322 barrels ("BBLs") at an average price of $105.03 in the 2013 period, compared to 7,439 BBLs at an average price of $96.64 in the 2012 period. In Colombia, we sold 4,000 BBLs at an average price of $100.57 in the 2013 period compared to 6,000 BBLs at an average price of $100.54 in the 2012 period. We began well production in Logan County, Oklahoma, in the first quarter of 2012, and continue to develop wells in that area, which accounted for the majority of the increase in oil sales in the United States.
Pipeline Sales
The Guaduas pipeline connects with the ODC pipeline (the "ODC Pipeline") to transport oil to the port of Covenas in Colombia. Pipeline sales were $617,145, an increase of $108,640, or 21.4% for the three months ended September 30, 2013 compared to $508,505 for the three months ended September 30, 2012, primarily due to an increase in the number of barrels transported. The number of barrels transported was 3.27 million BBLS (our share was approximately 307,000) and 2.69 million BBLs (our share was approximately 253,000) in the three months ended September 30, 2013 and 2012, respectively.
Natural Gas Sales
Natural gas sales comprise revenues from the sale of natural gas and natural gas liquids. Natural gas sales were $128,134 for the three months ended September 30, 2013 compared to $84,572 for the three months ended September 30, 2012, an increase of $43,562, or 51.5%. All of our natural gas sales are from the well production in Logan County, Oklahoma.
Total revenues were $3,661,261, an increase of $1,806,494, or 97.4% for the three months ended September 30, 2013 compared to $1,855,127 for the three months ended September 30, 2012. Oil sales accounted for 79.6% and 68.0% of total revenues in the 2013 and 2012 periods, respectively.
Oil Sales
Oil Sales were $2,916,342, an increase of $1,654,292, or 131.1%, for the three months ended September 30, 2013 compared to $1,262,050 for the three months ended September 30, 2012. Oil sales increased due to an increase in the number of barrels sold and an increase in the average price per barrel. In the United States ("US"), we sold 24,322 barrels ("BBLs") at an average price of $105.03 in the 2013 period, compared to 7,439 BBLs at an average price of $96.64 in the 2012 period. In Colombia, we sold 4,000 BBLs at an average price of $100.57 in the 2013 period compared to 6,000 BBLs at an average price of $100.54 in the 2012 period. We began well production in Logan County, Oklahoma, in the first quarter of 2012, and continue to develop wells in that area, which accounted for the majority of the increase in oil sales in the United States.
Pipeline Sales
The Guaduas pipeline connects with the ODC pipeline (the "ODC Pipeline") to transport oil to the port of Covenas in Colombia. Pipeline sales were $617,145, an increase of $108,640, or 21.4% for the three months ended September 30, 2013 compared to $508,505 for the three months ended September 30, 2012, primarily due to an increase in the number of barrels transported. The number of barrels transported was 3.27 million BBLS (our share was approximately 307,000) and 2.69 million BBLs (our share was approximately 253,000) in the three months ended September 30, 2013 and 2012, respectively.
Natural Gas Sales
Natural gas sales comprise revenues from the sale of natural gas and natural gas liquids. Natural gas sales were $128,134 for the three months ended September 30, 2013 compared to $84,572 for the three months ended September 30, 2012, an increase of $43,562, or 51.5%. All of our natural gas sales are from the well production in Logan County, Oklahoma.
Total revenues were $3,661,261, an increase of $1,806,494, or 97.4% for the three months ended September 30, 2013 compared to $1,855,127 for the three months ended September 30, 2012. Oil sales accounted for 79.6% and 68.0% of total revenues in the 2013 and 2012 periods, respectively.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
Re: oedv
Comprehensive loss was $197,373 for the three months ended September 30, 2013 includes the Non-Cash mark-to-market loss on derivatives of $407433, stock based compensation and foreign currency adjustment. So, Adjusted Net Income for the quarter was ~ $290,000. More important, cash flow from operations was around $800,000.
Production should continue to ramp up as they bring on more wells in Logan County. Osage just needs to keep up with Slawson.
Production should continue to ramp up as they bring on more wells in Logan County. Osage just needs to keep up with Slawson.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group