This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Equal Energy Provides Operations Update To Coincide With Investor Field Trip

Stocks in this article: EQU

--Public Is Invited To Attend Webcast Investor Presentation--

OKLAHOMA CITY, OK, June 24, 2013 /PRNewswire/ - Equal Energy Ltd. (NYSE:EQU) (TSX:EQU.TO) is pleased to provide an operations update to coincide with its investor field trip scheduled for tomorrow. Equal also invites the public to attend a webcast of its field trip investor presentation from 8:00 am to 9:30 am Central Time tomorrow.

Key information to be discussed includes:

  • Results from Equal's two wells completed last week that are currently on production. These wells are the fourth and fifth wells of the ten well program planned for this year.
  • Average production rates of the wells completed in 2013 are above the type curve model, while well costs are in line with budget.
  • Drilling operations on the sixth well are wrapping up. Six wells drilled before the end of June provides validation of operational improvement including less than 30 days of drilling time per well.
  • Production is on track to meet or exceed full year budget rate of 6,400 boe/d

"During our investor field trip we will be explaining the benefit of our strategy, which is to focus on the Hunton play in central Oklahoma," said Don Klapko, President and Chief Executive Officer. "Our drilling so far in the second quarter, as in the first quarter, has a perfect record for successful Hunton wells and as a result we remain on track to meet the previously disclosed full-year production target of 6,400 barrels of oil equivalent per day, based on a 10 well drilling program."

As part of Equal's second quarter 2013 financial disclosure on August 8, 2013, the company expects to announce the results of the Board's mid-year capital efficiency review and Equal's associated go forward plan.

Operating Results

Based on actual production for April and May and anticipated production for June, Equal expects it will achieve second quarter 2013 production of approximately 6,300 boe/d. This compares to 6,280 boe/d in the first quarter of 2013. The quarterly growth in production was achieved in spite of three unusual events that impacted field operations and caused an approximate 170 boe/d to be shut in during the quarter. The first of these events was caused by a third party product purchaser's infrastructure failure, causing our Goodnight field to be shut in for 17 days in April. The second was due to a lightning strike at a disposal well and the last was the previously reported tornado in May. Operations have since returned to normal.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs