Elan Energy reports financial results for six months ended June 30, 1995.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)--Aug. 9, 1995--Elan Energy Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). , ME: ELN Noun 1. ELN - a Marxist terrorist group formed in 1963 by Colombian intellectuals who were inspired by the Cuban Revolution; responsible for a campaign of mass kidnappings and resistance to the government's efforts to stop the drug trade; "ELN kidnappers target ) today announced its results for the six months ended June June: see month. 30, 1995. Revenue, net of royalties Not to be confused with Royal family. Royalties (sometimes, running royalties) are usage-based payments made by one party (the "licensee") to another (the "licensor") for ongoing use of an asset, most typically an intellectual property (IP) right. totalled $94.5 million over the first six months of the year including $51.7 million for the second quarter. This represents an increase of 33 percent over revenue of $71.1 million for the first six months of 1994. Cash flow in the second quarter amounted to $31.4 million ($0.68 per share) for total cash flow of $57.9 million ($1.26 per share) for the first half of 1995. Cash flow for the second quarter of 1995 is 9 percent higher than the $28.9 million ($0.63 per share) reported for the corresponding period in 1994 and cash flow for the first half of the year is up 25 percent from the $46.3 million ($1.01 per share) recorded for the first six months of 1994. Net income for the first six months of the year amounted to $11.1 million ($0.24 per share), including $6.5 million reported for the second quarter. Net income for the six months ended June 30, 1994, totalled $5.4 million ($0.11 per share) and included earnings of $5.0 million for the second quarter. Oil and NGL NGL - A dialect of IGL. production averaged 30,500 barrels per day Barrels per day (abbreviated BPD, bbl/d, bpd, bd or b/d) is a measurement used to describe the amount of crude oil (measured in barrels) produced or consumed by an entity in one day. over the second quarter resulting in an average of 27,900 barrels per day for the six months ended June 30, 1995. This compares with production of 25,000 barrels per day for the second quarter of 1994 and 24,500 barrels per day for the six months ended June 30, 1994. Production in 1995 has increased principally as a result of the Lindbergh acquisition which ELAN reported earlier in the year. ELAN's share of production from the acquired property was producing approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 7,500 barrels per day early in 1995. As a result of an aggressive recompletion and workover program, production from the Lindbergh area, net to ELAN, is currently over 10,500 barrels per day. Additional increases in production will be recorded in the second half of 1995 as the Company implements a drilling program in the area. -0-
Three Months Six Months
Ended Ended
June 30 Percent June 30 Percent
1995 1994 Change 1995 1994 Change
--------------------- -------------------
Daily Production Oil and NGL's (bbls/d) 30,500 25,000 22 27,900 24,500 14 Natural gas (mmcf/d) 18.0 23.0 -22 19.0 22.0 -14 Sales Prices WTI (US $/bbl) $19.34 $17.75 9 $18.85 $16.27 16 Oil ($/bbl) $21.95 $20.43 7 $21.85 $17.69 24 Natural gas ($/mcf) $ 1.37 $ 2.14 -36 $ 1.53 $ 2.20 -30 Operating Costs Oil ($/bbl) $ 4.72 $ 3.56 33 $ 4.79 $ 3.80 26 Natural gas (mcf/d) $ 0.81 $ 0.66 23 $ 0.71 $ 0.64 11 Cash Flow From operations (000's) $31,399 $28,922 9 $57,912 $46,294 25 Per share - basic $ 0.68 $ 0.63 8 $ 1.26 $ 1.01 25 -fully diluted $ 0.66 $ 0.61 8 $ 1.21 $ 0.98 24 Earnings Net income (000's) $ 6,542 $ 5,029 30 $11,125 $ 5,407 106 Per share $ 0.14 $ 0.10 40 $ 0.24 $ 0.11 118 -0- CONTACT: Elan Energy Inc. Verne G. Johnson, Curtis W. Hicks Hicks , Edward 1780-1849. American painter of primitive works, notably The Peaceable Kingdom, of which nearly 100 versions exist. , 403/266-8500 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion