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Bankers Petroleum Announces 2013 First Quarter Financial and Operational Results
Realised Free Cash Flow and Record Production; Current Production 17,500 bopd CALGARY...
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[{"type":"text","content":"\n\n\n\n\n\nRealised Free Cash Flow and Record Production; Current Production 17,500\n bopd\n\n\nCALGARY, May 9, 2013 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the\n \"Company\") (TSX: BNK, AIM: BNK) is pleased to provide its 2013 first\n quarter financial and operational results.  During the quarter, Bankers\n achieved several key milestones, including its first quarter of free\n cash flow and record production levels.\n\n\n\n\n\n\n\nResults at a Glance \n\n\nThree months ended March 31\n\n\n\n\n(US$000s, except as noted)\n\n\n \n\n\n \n\n\n \n\n\n2013\n\n\n2012\n\n\nChange (%)\n\n\n\n\nOil revenue\n\n\n \n\n\n \n\n\n \n\n\n132,562\n\n\n102,668\n\n\n29%\n\n\n\n\nNet operating income\n\n\n \n\n\n \n\n\n \n\n\n73,165\n\n\n53,471\n\n\n37%\n\n\n\n\nNet income\n\n\n \n\n\n \n\n\n \n\n\n14,177\n\n\n7,765\n\n\n83%\n\n\n\n\n \n\n\nPer share - basic ($)\n\n\n \n\n\n \n\n\n \n\n\n0.06\n\n\n0.03\n\n\n81%\n\n\n\n\n \n\n\n- diluted\n\n\n \n\n\n \n\n\n \n\n\n0.06\n\n\n0.03\n\n\n81%\n\n\n\n\nFunds generated from operations\n\n\n \n\n\n \n\n\n \n\n\n65,419\n\n\n48,072\n\n\n36%\n\n\n\n\n \n\n\nPer share - basic ($)\n\n\n \n\n\n \n\n\n \n\n\n0.26\n\n\n0.19\n\n\n34%\n\n\n\n\nCapital expenditures\n\n\n \n\n\n \n\n\n \n\n\n47,327\n\n\n62,701\n\n\n(25%)\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\nAverage sales (bopd)\n\n\n \n\n\n \n\n\n \n\n\n16,605\n\n\n13,279\n\n\n25%\n\n\n\n\nAverage price ($/barrel)\n\n\n \n\n\n \n\n\n \n\n\n88.70\n\n\n84.96\n\n\n4%\n\n\n\n\nNetback ($/barrel)\n\n\n \n\n\n \n\n\n \n\n\n48.96\n\n\n44.24\n\n\n11%\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\nMarch 31, 2013\n\n\n December 31, 2012\n\n\n March 31, 2012\n\n\n\n\nCash and deposits\n\n\n \n\n\n \n\n\n \n\n\n39,847\n\n\n38,740\n\n\n77,150\n\n\n\n\nWorking capital\n\n\n \n\n\n \n\n\n \n\n\n108,497\n\n\n88,799\n\n\n118,989\n\n\n\n\nTotal assets\n\n\n \n\n\n \n\n\n \n\n\n899,669\n\n\n825,816\n\n\n747,029\n\n\n\n\nLong-term debt\n\n\n \n\n\n \n\n\n \n\n\n99,488\n\n\n97,158\n\n\n...