CALGARY, Alberta, Nov. 06, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to report its operating and unaudited financial results for the three and nine months ended September 30, 2019. FINANCIA L AND OPERATING HIGHLIGHTS Three Months Ended September 30 Nine Months Ended September 30 2019 2018 2019 2018 ( 000’s, except per share amounts ) ($) ($) ($) ($) Oil and natural gas revenues 9,543 12,724 30,344 37,493 Cash flow from operations 4,333 3,223 10,416 10,971 Funds from operations (1) 3,198 3,071 11,963 9,871 Per share basic 0.08 0.09 0.31 0.29 Per share diluted (2) 0.08 0.09 0.31 0.28 Net income (loss) 889 637 1,682 (3,077 ) Per share basic 0.02 0.02 0.04 (0.09 ) Per share diluted (2) 0.02 0.02 0.04 (0.09 ) Capital expenditures (3) 1,540 703 5,601 10,005 Net debt (4) 41,140 47,069 41,140 47,069 Shareholders’ equity 195,415 189,441 195,415 189,441 Crude oil (bbls/d) 1,511 1,951 1,584 2,100 Natural gas (mcf/d) 22 – 84 137 Total (boe/d) 1,515 1,951 1,598 2,123 Crude oil ($/bbl) 68.65 70.90 69.95 65.26 Natural gas ($/mcf) 0.96 – 3.89 1.73 Combined average ($/boe) (6) 68.50 70.90 69.55 64.69 Operating netback ($/boe) (7) 34.73 26.38 […]
