Exact(5)
The longer term outlook, however, is more buoyant as its working interests are becoming larger, which means that the cash flows will be more substantial.
The Company's primary focus is oil exploration and production through non-operated working interests in wells drilled and completed in spacing units that include its acreage.
Plains Exploration also reported third quarter earnings today and said it would sell all of its working interests in its South Texas conventional natural gas properties to a third part for $185 million.
As of December 31 , 2011 it had working interests in 3,190 gross (2,879 net) active producing oil wells and 1,423 gross (209 net) active producing gas wells.
SP Angel said: The company has an active programme and while the low working interests mean that each well has only an incremental benefit, each one is a diversification of the revenue stream and given the low operational costs, takes the company forwards.
Similar(55)
Anne inherited land, royalties, working interest in family's Burnett Oil.
Comstock has a 67% working interest in this well.
Golden Eagle is operated by Nexen Petroleum UK, which also holds a 36.54% working interest in the field.
The acquisition includes 141,000 net acres across several counties, about 90% operated with 65% average working interest.
The Company is the operator of and has a 40% working interest in Block 20 offshore Angola.
It is participating as a non-operator with a 21.25% working interest in the deepwater Diaba block offshore Gabon.
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