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Emerald Ramps Up Production Despite Weather Woes in Q1

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Emerald Ramps Up Production Despite Weather Woes in Q1

Emerald Oil, Inc. has reported financial and operational results for the quarter ended March 31, 2014 and increased and updated guidance for 2014.

Highlights:

  • First quarter of 2014 production of 225,905 BOE, an average of approximately 2,511 BOEPD, an increase of 3% compared to the fourth quarter of 2013 and 136% compared to the first quarter of 2013;
  • Reduction of per unit LOE costs during the first quarter of 2014 to approximately $11.59 per BOE, a decrease of 33% compared to the fourth quarter of 2013;
  • First quarter of 2014 Adjusted EBITDA of $9.0 million;
  • Adjusted net income attributable to common shareholders of $2.5 million or $0.04 per share (basic) for the first quarter of 2014 and net loss attributable…
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