Petrobank Energy and Resources 2011 Q4 Results

Petrobank Energy and Resources Ltd. (TSX:PBG) reported its financial and operating results for 2011 fourth quarter.

As quoted in the press release:

PetroBakken Fourth Quarter and Year End Highlights

• December 2011 production averaged 50,250 barrels of oil equivalent per day (“boepd”), exceeding exit production guidance estimates and setting a new corporate benchmark. This is an 18% increase over December 2010.

• Fourth quarter production was 48,007 boepd (87% light oil and liquids weighted), a 23% increase over the third quarter of 2011.

• Operating netback for the fourth quarter was $59.21/boe, an 18% increase over the third quarter of 2011.

Click here to read the Petrobank Energy and Resources Ltd. (TSX:PBG) press release.