Mountainview Energy Ltd. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Provides Earnings Guidance for the Year 2014
For the quarter, the company reported average first quarter production of 898 boe/d, an increase of 230% over the average of 390 boe/d for the first quarter of 2013. Exited first quarter with 1,284 boe/d of production with oil weighting of 87%, compared to 510 boe/d with 79% oil weighting for the prior period quarter.
The company anticipates 2014 funds flow from operations in excess of $8 million, and available credit on its existing credit facility, Mountainview will continue to focus on the development of its core 12 Gage asset in Divide County, N.D.