Panhandle Oil and Gas Inc. Announces Retirement of Ben Spriestersbach as Vice-President, Land, Effective October 31, 2014
Aug 21 14
Panhandle Oil and Gas Inc. announced that Ben Spriestersbach, Vice-President, Land, will retire from the Company on Oct. 31, 2014.
Panhandle Oil and Gas Inc. Announces Un-Audited Earnings and Production Results for the Third Quarter and Nine Months Ended June 30, 2014
Aug 7 14
Panhandle Oil and Gas Inc. announced un-audited earnings results for the third quarter and nine months ended June 30, 2014. For the quarter, the company reported revenue of $18.4 million, compared to $17.7 million, net income of $5,122,585, or $0.61 per basic and diluted share compared to $5,070,168, or $0.61 per basic and diluted share, for the 2013 third quarter. Net cash provided by operating activities increased 68% to $14,705,184 versus the 2013 third quarter. Capital expenditures for drilling and completing wells for the 2014 fiscal quarter totaled $9,086,863 and continue to be principally directed toward oil and NGL rich plays in western and south central Oklahoma, the Texas Panhandle, and, subsequent to the acquisition, in the Eagle Ford Shale. The company reported income before provision for income taxes of $7,627,585 compared to $7,323,168 for the last year.
For the nine months, the company reported net income of $15,703,476, or $1.88 per basic and diluted share compared to $8,240,953, or $0.99 per basic and diluted share, for the 2013 nine months. Net cash provided by operating activities increased 51% year over year to $36,438,536 for the 2014 nine months versus the 2013 nine months. Net cash flow from operations fully funded costs to drill and equip wells for the nine months. Net cash provided by operating activities was $36,438,536 compared to $24,193,214, capital expenditures, including dry hole costs was $26,693,851 compared to $20,576,359 and income before provision for income taxes of $23,237,476 compared to $11,909,953 for the last year. Total revenues for the 2014 nine months were $56,523,778, a 27% increase from $44,492,866 for the 2013 nine months.
Oil production increased 27% in the 2014 quarter to 70,479 barrels versus 55,474 barrels in the 2013 quarter, while gas production of 2,508,346 Mcf for the 2014 quarter decreased 9% compared to the 2013 quarter.
Oil production increased 42% in the 2014 nine months to 220,131 barrels from 154,697 barrels in the 2013 nine months while gas production increased 16,816 Mcf compared to the 2014 nine months.
Panhandle Oil and Gas Inc. Presents at Midwest IDEAS Investor Conference 2014, Aug-27-2014 10:55 AM
Aug 7 14
Panhandle Oil and Gas Inc. Presents at Midwest IDEAS Investor Conference 2014, Aug-27-2014 10:55 AM. Venue: Chicago Hard Rock Hotel, 230 N. Michigan Avenue, Chicago, Illinois, United States. Speakers: Michael C. Coffman, Chief Executive Officer, President and Director, Paul F. Blanchard, Chief Operating Officer and Senior Vice President.
Panhandle Oil and Gas Inc. to Report Q3, 2014 Results on Aug 07, 2014
Jul 29 14
Panhandle Oil and Gas Inc. announced that they will report Q3, 2014 results at 9:00 AM, Eastern Standard Time on Aug 07, 2014