Actually, in addition to the oil produced from Marco Polo (and I reckon that is playing out like that children's game ... I can just visualize the caller) AKK also sold (from their stored inventory of stock from the Niobrara producer) additional 134 Bbls in Dec.
BTW why would it be reported in Qtrly that (my bold) "The oil being produced from the Pierre formation is a high quality, light sweet crude with a API gravity of 35 –37 and sulfur < 0.1%" when they report elsewhere that in Nov Marco Polo was 35 API and in Dec in was 31 (bad writing?)
Thus total oil sales from the 2 producers was 251 + 134 = 385 BO for Qtr.
Would there be any production to include from KY (the state not the jelly)
Say no ... and you have 385 BO (gross) at their NRI 75% (as reported by AKK) gives them 288.75 get revenue. Call it 300 to be kind.
Kinda of implies at corporate level
gross revenue per barrel to be $13.33/BO doesn't it? That does not compute
sales production cost per barrel to be $36.67/BO which does compute
At the Pierre formation level
251/385 x $4,000 = $2,600
and since it was the only production then its $11,000/268 = $41.04/BO
and for laughs G&A+Staff costs of $391,000 / 300 barrels sold =$1,303 per Bbl. I know ... no fair
Of course that's just for the Dec Qtr. Surely improves going forward ;)
Piranhas are small fish too.
Good luck
AKK Price at posting:
0.6¢ Sentiment: None Disclosure: Not Held
