Why Athlon Energy (ATHL) Stock Is Up Today

NEW YORK (TheStreet) -- Athlon Energy (ATHL) was gaining 5.2% to $41.48 Wednesday after the company announced first-quarter production results and increased its outlook for 2014.

In the first quarter Athlon reported record daily production volumes of 16,987 barrels of oil equivalent a day, a 71% increased from the 9,959 BOE/d produced in the first quarter of 2013. The production numbers are above the high-end of Athlon's guidance for the quarter, and were comprised of 61% oil, 21% natural gas liquids, and 18% natural gas.

Looking to the rest of the year, Athlon Energy expects daily production averages of between 23,000 and 24,250 BOE/d.

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"Athlon Energy Inc., is an independent exploration and production company. The Company is a holding company and its sole assets are controlling equity interests in Athlon Holdings LP and its subsidiaries. The Company is focused on the acquisition, development and exploitation of unconventional oil and liquids-rich natural gas reserves in the Permian Basin. The Permian Basin spans portions of Texas and New Mexico and consists of three primary sub-basins: the Delaware Basin, the Central Basin Platform and the Midland Basin. The Company's properties are located in the Midland Basin. In February 2014, Athlon Energy Inc announced that subsidiary, Athlon Holdings LP completed the acquisition of certain oil and natural gas properties and related assets in the Midland Basin of West Texas."

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