Business
Bankers Petroleum Announces 2013 Second Quarter Financial and Operational Results
Free Cash Flow of $9 Million and Q3 Average Production to Date 18,300 bopd CALGARY...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\n\n\nFree Cash Flow of $9 Million and Q3 Average Production to Date 18,300\n bopd\n\n\nCALGARY, Aug. 14, 2013 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the\n \"Company\") (TSX: BNK, AIM: BNK) is pleased to provide its 2013 second\n quarter financial and operational results.  During the quarter, Bankers\n achieved its second consecutive quarter of free cash flow and record\n production levels.\n\n\n\n\n\n\n\nResults at a Glance\n\n\nThree months ended June 30\n\n\nSix months ended June 30\n\n\n\n\n($000s, except as noted)\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n\n\nFinancial            \n\n\n \n\n\n\n\n \n\n\nOil revenue\n\n\n131,838\n\n\n98,587\n\n\n34%\n\n\n264,400\n\n\n201,255\n\n\n31%\n\n\n\n\n \n\n\nNet operating income\n\n\n69,142\n\n\n47,252\n\n\n46%\n\n\n142,307\n\n\n100,723\n\n\n41%\n\n\n\n\n \n\n\nNet income\n\n\n13,024\n\n\n11,253\n\n\n16%\n\n\n27,201\n\n\n19,018\n\n\n43%\n\n\n\n\n \n\n\n \n\n\nPer share - basic ($)\n\n\n0.05\n\n\n0.04\n\n\n16%\n\n\n0.11\n\n\n0.08\n\n\n41%\n\n\n\n\n \n\n\n \n\n\n- diluted ($)\n\n\n0.05\n\n\n0.04\n\n\n16%\n\n\n0.11\n\n\n0.08\n\n\n43%\n\n\n\n\n \n\n\nFunds generated from operations \n\n\n61,717\n\n\n43,159\n\n\n43%\n\n\n127,136\n\n\n91,231\n\n\n39%\n\n\n\n \n\n \n\n\nPer share - basic ($)\n\n\n0.24\n\n\n0.17\n\n\n41%\n\n\n0.50\n\n\n0.36\n\n\n39%\n\n\n\n\n \n\n\nCapital expenditures\n\n\n52,389\n\n\n52,632\n\n\n-\n\n\n99,716\n\n\n115,333\n\n\n(14%)\n\n\n\n\nOperating\n\n\n \n\n\n\n\n \n\n\nAverage sales (bopd)\n\n\n18,008\n\n\n14,169\n\n\n27%\n\n\n17,310\n\n\n13,724\n\n\n26%\n\n\n\n\n \n\n\nAverage price ($/barrel)\n\n\n80.45\n\n\n76.46\n\n\n5%\n\n\n84.39\n\n\n80.57\n\n\n5%\n\n\n\n\n \n\n\nNetback ($/barrel)\n\n\n42.19\n\n\n36.65\n\n\n15%\n\n\n45.42\n\n\n40.33\n\n\n13%\n\n\n\n\n \n\n\nAverage Brent oil price ($/barrel)\n\n\n102.43\n\n\n108.29\n\n\n(5%)\n\n\n107.50\n\n\n113.61\n\n\n(5%)\n\n\n\n\n           \n\n\n\n\n       \n\n\nJune 30, 2013\n\n\nDecember 31, 2012\n\n\nJune 30, 2012\n\n\n\n\nCash and deposits\n\n\n      33,381\n\n\n38,740\n\n\n60,297\n\n\n\n\nWorking capital\n\n\n      116,656\n\n\n88,799\n\n\n112,022\n\n\n\n\nTotal assets     ...