Post Tagged with: "7G"

Seven Generations Energy Chalks Up $562 Million Net Income

Seven Generations Energy Chalks Up $562 Million Net Income

2017 average Q4 production was 197,000 BOEPD Montney producer Seven Generations Energy Ltd. (ticker: VII) reported a net income of $83.6 million, or $0.23 per share for the fourth quarter of 2017. For the full year, the company posted a net income of $562.5 million, or $1.54 per share. Fourth quarter liquids production was 115,100 Bbls/d, which included 63,700 Bbls/d of condensate. Natural gas volumes were 493.4 MMcf/d and total production reached a quarterly record of 197,300 BOEPD in Q4 2017. Overall, total production averaged 197,300 BOEPD in the fourth quarter, and 175,000 BOEPD in 2017. The drilling and completion cost per well was $9.8 million in the fourth quarter of 2017 – down from $11.3 million in the third quarter of 2017. This was largely attributable to drilling shorter laterals due to land restrictions and optimizing the number of hydraulic fracturing stages and sand tonnage, the company said. 7G[Read More…]