Total revenue in the quarter was $10.2 million, $7.5 coming from oil and gas sales, $2.6 million coming from our share of RockPile Energy Services revenue. Cash flow from operations in the quarter was approximately $6.7 million and EPS slightly negative, negative $0.02 and hopefully the last negative quarter on a go forward basis. We ended the quarter with 44.3 million shares outstanding as of July 31.Providing some of the metrics, our average sales price per barrel was $77 that was on $93,730 barrels of oil. We produced 60 million cubic feet of gas with an average sales price of $4.20 and 37,460 gallons of NGL at a sales price of $0.97. Obviously the big news in the last month was our financing with Natural Gas Partners, based at Irving, Texas, quick recap of the deal. It was a $120 million in convertible notes. The notes convert to $8 a share in the Triangle common stock. Notes carry a cashless coupon with a 5% annual interest rate, that interest is simply added to the principal. There is a note maintenance covenants, and we really treat this internally more or like preferred equity and long-term money. From NGP, we added a new board member Roy Aneed, and we are very excited about this relationship. Roy has been great to work with along with the rest of the team. Besides capital, we’ve already added value in a number of ways on the financial front, on the strategic front, deal flow. And we really think it’s going to change Triangle on a go forward basis. We’re also pleased to have sourced this capital ourselves. Thanks to our team here at Triangle. So we didn't pay any fees and we think it was the lowest cost capital available to us at the time. As a result of the NGP financing, we are very happy with where our balance sheet sits today. We ended the quarter with $116 million of cash and an undrawn credit facility of $27 million. We are going to look to have that credit facility redetermined during the next month or two and expect that to increase. We have no debt outside of the convertible notes, which as I mentioned we consider to be more like preferred equity.
We initiated in the quarter 1,000 barrels a day of hedges for the balance of this year. So costs of color with a floor of approximately $81 and a ceiling of $102 or $103. We also put in 500 barrels a day for the balance of 2013 and 2014 with a similar band.Regarding our philosophy on hedging on a go forward basis, we are very, very comfortable in the 80/100 range. We would like to increase our hedges and you should definitely expect more from us. Regarding RockPile, this was RockPile’s first quarter of operations, they started up with surprisingly very, very wider, and any start-up operation you can imagine there was going to be some bumps in the road and we really avoided those and the teams did a fantastic job. We completed two wells in the quarter and are fully functional and going today they are zipper-fracking two wells for us in Williams County. We have an additional three wells in McKenzie County that are waiting on completion. Read the rest of this transcript for free on seekingalpha.com