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Caza Oil & Gas Inc. (TSX:CAZ) announced that its unaudited results for the first quarter of 2012 include increases in production and revenue.
Caza Oil & Gas Inc. (TSX:CAZ) announced that its unaudited results for the first quarter of 2012 include increases in production and revenue.
As quoted in the press release:
- Caza’s production increased 18.1% to 28,317 Boe for the three-month period ended March 31, 2012, from 23,974 Boe for the comparative period in 2011. This represents an average daily production rate increase of 45 Boe/d to 311 Boe/d, as compared to 266 Boe/d for the comparative period. Caza’s Q1 2012 production of 28,317 Boe represents an increase of 17.5% to 28,317 Boe compared to Q4 2011 (24,105 Boe), due to additional wells coming on line.
- Caza’s revenues from oil and gas sales increased 33.4% to $1,392,729 for the three-month period ended March 31, 2012, from $1,043,943 for the comparative period in 2011. The increase in revenues was primarily due to additional wells being brought on line since the comparative period. Despite lower prices, Caza’s Q1 2012 revenues of $1,392,729 represent an increase of 15.4% to $1,392,729 compared to Q4 2011 ($1,206,649).
Click here to read the full Caza Oil & Gas Inc. (TSX:CAZ) press release.