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Endeavour International Corp
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Q2 2014 Earnings Review
| Darcey Matthews | Page 3 of 11 |
May 13, 2024
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"Q2 2014 Earnings Review"
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3 2014 Second Quarter – Operational/Financial Results ? Physical production and sales volumes • Physical production averaged 12,900 barrels of oil equivalent per day (“boepd”) compared to 9,500 boepd during Q2 2013 • Production rates at Rochelle exceeded 100 million cubic feet equivalent/per day (“mmcfed”) for 32 days during the quarter • Sales volumes were 7,400 boepd compared to 14,500 boepd during Q2 2013. The Company did not have a lifting at Alba during the second quarter, affecting sales volumes. ? Restarted production from the West Rochelle (W1) well, flowing both wells together for the first time • During the quarter, the field experienced periods where flow rates were in excess of 100 million cubic feet of gas per day (“mmcfd”) and 4,000 boepd, representing 9,000 boepd – 9,500 boepd net to Endeavour ? Finished the hydraulic fracture of a Pennsylvania Marcellus well • The third completion in the Daniel Field in 2014 ? Executed a forward sale in May for $22.5 million • This third forward sale is expected to be fulfilled in November 2014 ? Received insurance proceeds of $12.6 million for the Rochelle E1Y well damaged in early 2013