For the first quarter of 2013, EBITDAX was $123.6 million and discretionary cash flow was $113.4 million, or $2.89 per share (see reconciliation to GAAP of EBITDAX and discretionary cash flow in the tables). Cash flow from operating activities in the first quarter of 2013 was $78.2 million, a 37% increase compared to cash flow from operating activities for the same quarter a year ago.Gary C. Hanna, the Company's President and CEO, stated, "I am pleased with our execution so far during this transformational year. The integration of the Hilcorp acquisition is behind us and the properties are performing even better than we anticipated. Although the year is just underway, we are feeling comfortable that our 2013 annual oil production should come within the mid to upper end of our full year guidance range and significantly ramp up during the second half of this year.
EPL Announces First Quarter 2013 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts