Greenfields Petroleum Corporation Announces Earnings and Operating Results for the First Quarter Ended March 31, 2018
For the quarter, gross production volumes with respect to the offshore block known as the Bahar Project averaged 838 bbl/d for crude oil and 17,299 mcf/d for natural gas, or a total of 3,720 boe/d. In comparison to the first quarter 2017, gross production volumes decreased 3% for crude oil (862 bbl/d), decreased 20% for natural gas (21,587 mcf/d) and decreased 17% (4,460 boe/d) for boe/d. Realized oil price averaged $63.11/bbl, an increase of 34% in comparison to $47.24/bbl realized in the first quarter 2017. In the fourth quarter of 2017, the Company realized average prices of $56.04/bbl.