Cimarron Petroleum Ltd. - First Quarter Results.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta--(BUSINESS WIRE)--May 13, 1996--CIMARRON PETROLEUM LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : CIR (Committed Information Rate) In a frame relay network, the average transmission rate in bits per second (typically Kbps) for a virtual circuit. It defines the maximum rate that the network can handle under normal conditions. ) announces its UNAUDITED financial results and supplementary operating data for the first quarter ended March 31, 1996. -0-
Three Months Ended
March 31 Percent
1996 1995 Change
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FINANCIAL
(000 except per share)
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Gross Revenues $15,176 $ 8,518 + 78
Cash flow 8,431 4,824 + 75
Per share 0.77 0.61 + 26
Net income 1,670 1,316 + 27
Per share 0.15 0.17 - 12
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PRODUCTION
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Liquids
Barrels per day 2,835 2,360 + 20
Netback per barrel
Sales price $ 21.75 $ 22.14 - 2
Royalties (2.89) (2.48) + 17
Operating costs (5.24) (4.59) + 14
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$ 13.62 $ 15.07 - 10
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Gas
Million cu. ft. per day 61.0 29.9 +104
Netback per thousand cu. ft.
Sales price $ 1.72 $ 1.42 + 21
Royalties (.22) (.15) + 47
Operating costs (.30) (.22) + 36
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$ 1.20 $ 1.05 + 14
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WELLS DRILLED (January - March 1996)
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Exploratory Development Total
Gross Net Gross Net Gross Net
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Oil 3 0.8 5 2.7 8 3.5
Gas 3 2.9 6 5.3 9 8.2
Dry 1 0.6 1 0.7 2 1.3
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TOTAL 7 4.3 12 8.7 19 13.0
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March 31 March 31 Percent
LANDS (thousands of acres) 1996 1995 Change
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Gross - Developed 337 116 + 191
- Undeveloped 842 196 + 330
- Total 1,179 312 + 278
Net - Developed 174 72 + 142
- Undeveloped 427 133 + 221
- Total 601 205 + 193
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NET INDEBTEDNESS (millions)
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Long-term debt (24.7) (22.6)
Working capital (deficit) 9.0 (.5)
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(15.7) (23.1)
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SHARE DATA (millions)
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Weighted average 10.9 7.9
Outstanding at Period End 10.9 7.9
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CONTACT: Cimarron Cimarron (sĭm`ərŏn'), river, 698 mi (1,123 km) long, rising in NE N.Mex., and flowing generally E to the Arkansas River, W of Tulsa, Okla. It follows the direct route of the Santa Fe Trail for many miles in Kansas. Petroleum Ltd. Randy The name Randy generally derives from the names Randall or Randolph (meaning wolf with a shield). Randy is used as a given name primarily in the US and Canada. Men known as Randy
President 403/265-8900 403/266-2780 or Cimarron Petroleum Ltd. Chris CHRIS Chemical Hazards Response Information System (US DoD) CHRIS California Historical Resources Information System CHRIS Computerized Human Resources Information System CHRIS Command Human Resources Intelligence System Ripplinger Chief Financial Officer 403/265-8900 403/266-2780 |
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