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Equal Energy Ltd. Details Year-end 2013 Financial Results

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March 18, 2014

Oklahoma City-based Equal Energy Ltd. (NYSE: EQU) detailed its year-end 2013 financial results, the company said March 17.

Capex had been between $38 million-$41 million at original guidance. But for the year, capex was $35.6 million, below guidance due to unexpectedly low drilling costs, the company said. Due to the low costs, 12 wells were drilled for the original budgeted cost of 10, the company noted.

Cash flow was $30 million, Equal Energy said, noting that cash flow would have been stronger due to higher revenues, which resulted from improved ...

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