Blackbird Energy, Inc. (TSX-V:BBI) announced that for the three months ended April 30,2018 the company achieved a record high of $6.4 million ($49.81/BOE) of petroleum and natural gas sales, a 94% increase year-over-year for Blackbird.

Blackbird was only able to produce for 70% of the quarter thanks to unscheduled third-party downtime, but managed a three month average of 1,447 BOEPD.

Blackbird has also seen a 1,674% YOY increase in corporate netback as well as an 84% YOY increase in operating netback. Improved commodity pricing combined with a larger production base led to these increased netbacks.

At April 30, 2018 the company had positive working capital of approximately $5.3 million of cash and no bank debt. The positive working capital and Blackbird’s credit facility capacity provided the company with $24.6 million of future available funding.

Blackbird has also expanded its existing operating loan facility with ATB Financial from $1.0 million to $20.0 million.

Blackbird Energy is presenting at EnerCom’s The Oil & Gas Conference® which will be held at the Denver Downtown Westin Hotel, Denver, Colo. Aug. 19-23, 2018. The complete conference presenter schedule is available at the conference website.


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