OTCPK:ARNBF - Post by User
Post by
nlr2on Jun 04, 2014 1:58am
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Post# 22627713
Coral Hill
Coral HillCoral Hill Energy provided shareholders with Q1 results. Highlights included average production of ~4,650 boe/d, and cash flow of $21.6MM. Net debt rose to $142MM. The company drilled 3.5 (net) BHL platform exploration wells in Q1; management plans to allocate capital to development drilling and waterflood for the remainder of 2014.
I am not a shareholder in Coral Hill but I do try to keep my eyes peeled for any information that comes up about them. It appears to me that they are struggling with growing production and debt creep also. Clearly they are in a far better posistion than Arcan but still interesting. For whatever reason it looks like Lightstream is the most successful company in the Swan Hills at this time. This leads me to believe that they have figured out a new completion technique. Hopefully Arcan knows it also from the farm in agreement and that is the reason for the success of the winter drilling program.