Bois d’Arc’s production in the fourth quarter of 2007 increased to 10.7 billion cubic feet equivalent of natural gas (Bcfe), 20% higher than production of 8.9Bcfe in the fourth quarter of 2006.
Bois d’Arc’s average realized oil price in 2007’s fourth quarter of $91.51 per barrel increased 58% over 2006’s fourth quarter average oil price of $57.77 per barrel. The company’s average realized natural gas price of $7.34 per thousand cubic feet (Mcf) in 2007’s fourth quarter was 10% higher than the $6.78 per Mcf realized in 2006’s fourth quarter.
The growth in production combined with stronger oil and gas prices resulted in a 51% increase in Bois d’Arc’s fourth quarter oil and gas sales to $100.2 million from $66.3 million in 2006’s fourth quarter.
Earnings before interest, taxes, depreciation, depletion, amortization, exploration expense (EBITDAX) and other non-cash expenses increased 63% to $81.8 million over 2006’s fourth quarter EBITDAX of $50.1 million.
