Business
Bankers Petroleum Announces 2013 Third Quarter Financial and Operational Results
Accumulated Free Cash Flow of $32 Million and Q4 Average Production to Date 19,050 bopd ...
About this update from Big Banc Split Corp. Class A
[{"type":"text","content":"\n\n\nAccumulated Free Cash Flow of $32 Million and Q4 Average Production to\n Date 19,050 bopd\n\n\nCALGARY, Nov. 8, 2013 /CNW/ - Bankers Petroleum Ltd. (\"Bankers\" or the\n \"Company\") (TSX: BNK, AIM: BNK) is pleased to provide its 2013 third\n quarter financial and operational results.  During the quarter, Bankers\n achieved its third 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 \nSeptember 30\n\n\nNine months ended \nSeptember 30\n\n\n\n\n($000s, except as noted)\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n2013\n\n\n2012\n\n\n% change\n\n\n\n\nFinancial\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n  \n\n\nOil revenue\n\n\n146,665\n\n\n115,054\n\n\n27%\n\n\n411,065\n\n\n316,309\n\n\n30%\n\n\n\n\n  \n\n\nNet operating income\n\n\n82,725\n\n\n58,159\n\n\n42%\n\n\n225,032\n\n\n158,882\n\n\n42%\n\n\n\n\n  \n\n\nNet income\n\n\n19,507\n\n\n12,274\n\n\n59%\n\n\n46,708\n\n\n31,292\n\n\n49%\n\n\n\n\n \n\n\n \n\n\nPer share\n\n\n- basic ($)\n\n\n0.08\n\n\n0.05\n\n\n60%\n\n\n0.18\n\n\n0.12\n\n\n50%\n\n\n\n\n \n\n\n \n\n\n \n\n\n- diluted ($)\n\n\n0.08\n\n\n0.05\n\n\n60%\n\n\n0.18\n\n\n0.12\n\n\n50%\n\n\n\n\n  \n\n\nFunds generated from operations \n\n\n71,074\n\n\n48,308 \n\n\n47%\n\n\n198,210\n\n\n139,539\n\n\n42%\n\n\n\n\n \n\n\n \n\n\nPer share\n\n\n- basic ($)\n\n\n0.28\n\n\n0.19\n\n\n47%\n\n\n0.78\n\n\n0.55\n\n\n42%\n\n\n\n\n  \n\n\nCapital expenditures\n\n\n66,199\n\n\n53,526\n\n\n24%\n\n\n165,915\n\n\n168,859\n\n\n(2%)\n\n\n\n\nOperating\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\n18,332\n\n\n15,715\n\n\n17%\n\n\n17,655\n\n\n14,393\n\n\n23%\n\n\n\n\n  \n\n\nAverage price ($/barrel)\n\n\n86.96\n\n\n79.58\n\n\n9%\n\n\n85.29\n\n\n80.21\n\n\n6%\n\n\n\n\n  \n\n\nNetback ($/barrel)\n\n\n49.05\n\n\n40.23\n\n\n22%\n\n\n46.69\n\n\n40.29\n\n\n16%\n\n\n\n\n  \n\n\nAverage Brent oil price ($/barrel)\n\n\n110.29\n\n\n109.50\n\n\n1%\n\n\n108.46\n\n\n112.21\n\n\n(3%)\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\n \n\n\nSeptember 30, 2013\n\n\nDecember 3...