Last C$5.65 CAD
Change Today -0.04 / -0.70%
Volume 87.9K
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As of 3:59 PM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

storm resources ltd (SRX) Snapshot

Open
C$5.65
Previous Close
C$5.69
Day High
C$5.70
Day Low
C$5.50
52 Week High
04/22/14 - C$5.70
52 Week Low
04/25/13 - C$1.94
Market Cap
619.3M
Average Volume 10 Days
426.6K
EPS TTM
C$-0.03
Shares Outstanding
109.6M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for STORM RESOURCES LTD (SRX)

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storm resources ltd (SRX) Details

Storm Resources Ltd. acquires, explores for, develops, and produces oil, natural gas, and natural gas liquids in the provinces of Alberta and British Columbia, Canada. It owns interests in lands covering approximately an area of 98,000 net acres located in Umbach; and undeveloped lands covering approximately an area of 81,000 net acres situated in Horn River Basin, Northeast British Columbia. The company also has interest in the properties located in Grande Prairie Area, Northwest Alberta and Northeast British Columbia. In addition, it owns 100% working interest in 29 sections of undeveloped land in the Umbach-Nig area prospective for liquids-rich natural gas from the Montney formation of North Eastern British Columbia. The company has total proved plus probable reserves of 40,541 thousands of barrels of oil equivalent. Storm Resources Ltd. was incorporated in 2010 and is headquartered in Calgary, Canada.

Founded in 2010

storm resources ltd (SRX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$196.8K
Chief Financial Officer
Total Annual Compensation: C$95.4K
Chief Operating Officer
Total Annual Compensation: C$190.8K
Vice President of Finance
Total Annual Compensation: C$190.8K
Compensation as of Fiscal Year 2013.

storm resources ltd (SRX) Key Developments

Storm Resources Ltd. Announces Financial Results for the Fourth Quarter and Year Ended December 31, 2013

Storm Resources Ltd. announced financial results for the fourth quarter and year ended December 31, 2013. The company has reported that net loss for the fourth quarter ended December 31, 2013 was CAD 25.17 million, or CAD 0.34 loss per share, compared to a net loss of CAD 2.32 million, or CAD 0.04 loss per share, for the same quarter ended December 31, 2012. Revenue from product sales for the fourth quarter ended December 31, 2013 was CAD 15.38 million, compared to CAD 10.41 million for the same quarter ended December 31, 2012. Net loss for the year ended December 31, 2013 was CAD 26.20 million, or CAD 0.36 loss per share, compared to a net loss of CAD 6.57 million, or CAD 0.12 loss per share, for the year ended December 31, 2012. Revenue from product sales for the year ended December 31, 2013 was CAD 49.58 million, compared to CAD 32.31 million for the year ended December 31, 2012.

Storm Resources Ltd. Presents at FirstEnergy/Societe Generale East Coast Energy Conference 2014, Mar-12-2014 03:05 PM

Storm Resources Ltd. Presents at FirstEnergy/Societe Generale East Coast Energy Conference 2014, Mar-12-2014 03:05 PM. Venue: Waldorf-Astoria Hotel, 301 Park Avenue, New York, NY 10022-6897, United States.

Storm Resources Ltd. Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reports Operating Results for the Fourth Quarter, Full Year Ended December 31, 2013, Two Months Ended February 2014; Provides Production Guidance for the First Quarter of Fiscal 2014, Until September 2014 and Reaffirms Operating Results for the Fourth Quarter and Full Year of Fiscal 2014

Storm Resources Ltd. reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenue from product sales of CAD 15,380,000 compared to CAD 10,412,000 a year ago. Funds from operations were CAD 7,501,000 or CAD 0.09 per basic and diluted share, compared to CAD 5,016,000 or CAD 0.08 per basic and diluted share, a year ago. Net loss was CAD 25,174,000 or CAD 0.34 per basic and diluted share, compared to CAD 2,320,000 or CAD 0.04 per basic and diluted share, a year ago. Adjusted net income before reduction in carrying amount of property and equipment was CAD 826,000 or CAD 0.01 per basic and diluted share, compared to adjusted net loss before reduction in carrying amount of property and equipment of CAD 2,320,000 or CAD 0.04 per basic and diluted share, a year ago. Operations capital expenditures was CAD 11,380,000 compared to CAD 10,016,000 a year ago. For the year, the company reported revenue from product sales of CAD 49,578,000 compared to CAD 32,313,000 a year ago. Funds from operations were CAD 21,949,000 or CAD 0.30 per basic and diluted share, compared to CAD 13,387,000 or CAD 0.24 per basic and diluted share, a year ago. The increase in funds from operations was the result of significant production growth at Umbach. Net loss was CAD 26,203,000 or CAD 0.36 per basic and diluted share, compared to CAD 6,574,000 or CAD 0.12 per basic and diluted share, a year ago. Adjusted net loss before reduction in carrying amount of property and equipment was CAD 203,000 or CAD 0.00 per basic and diluted share, compared to CAD 6,574,000 or CAD 0.12 per basic and diluted share, a year ago. Operations capital expenditures was CAD 67,410,000 compared to CAD 26,868,000 a year ago. Acquisitions and dispositions was CAD 14,966,000. The company reported operating results for the fourth quarter, full year ended December 31, 2013, two months ended February 2014. Fourth quarter of fiscal 2013 production was 4,773 Boe per day (24% oil plus NGL), a year-over-year increase of 70%. On a per-share basis, fourth quarter production increased 20% from the previous year while debt decreased by 70%, or CAD 28.3 million. Increased production was the result of growth at Umbach where production averaged 3,262 Boe per day in the fourth quarter of 2013, a 480% increase from 564 Boe per day in the fourth quarter of 2012. NGL production averaged 695 barrels per day in the fourth quarter, an increase of 154% from 274 barrels per day for the fourth quarter of 2012. NGL production increased as a result of production growth from the liquids-rich Montney formation at Umbach. With condensate and pentane being approximately 60% of the NGL mix, the fourth quarter NGL price of CAD 70.10 per barrel was 81% of the average Edmonton Par light oil price. For the year of 2013, the company’s production averaged 3,637 Boe per day (27% oil plus NGL) which represents an increase of 61% from 2012. Production in January and February of 2014 averaged 4,970 Boe per day based on field estimates. The company provided production guidance for the first quarter of fiscal 2014, until September 2014 and reaffirmed operating results for the fourth quarter and full year of fiscal 2014. For the first quarter, the company’s production is forecast to be 5,000 Boe per day. Production is expected to be 5,000 to 5,500 Boe per day until September 2014 when the new facility at Umbach will be operational. The company’s guidance for 2014 remains unchanged from what was provided on January 23, 2014. For the fourth quarter of 2014, the company’s average production is expected 7,500 Boe per day to 7,900 Boe per day (20% oil + NGL) which represents 60% growth on a year-over-year basis. The company reaffirmed operating and financial results for the full year of fiscal 2014. For the year, the company’s average annual production is expected 5,500 Boe per day to 6,500 Boe per day (21% oil + NGL). Major expenditures included in operations capital investment for 2014 include, CAD 47.0 million at Umbach to drill 10 horizontal wells (10.0 net) with 9 horizontal wells (9.0 net) being completed and tied in. Adjusted net debt is forecasted to be CAD 50.0 million at the end of 2014 (including public company investments), which would be approximately 1.0 times annualized funds from operations in the fourth quarter of 2014.

 

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