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CALGARY, ALBERTA -- (Marketwire) -- 03/13/13 -- RMP Energy Inc. ("RMP" or the "Company") (TSX: RMP) is pleased to announce its fiscal 2012 and fourth quarter financial results and provide information on its year-end crude oil and natural gas reserves in addition to an operations and hedging update.
Fiscal 2012 and Fourth Quarter 2012 Financial Results
For the year ended December 31, 2012, RMP reported funds from operations of $51.7 million ($0.52 per fully-diluted share) on revenue of $86.0 million and average daily production of 5,356 barrels of oil equivalent (43% light oil and NGLs weighted). Detailed results are as follows:
----------------------------------------------------------------------------Financial Results Quarterly Summary----------------------------------------------------------------------------(thousands except share and per boe data) (6:1 oil equivalent Dec. 31, Sept. 30, Dec. 31, conversion) 2012 2012 % change 2011----------------------------------------------------------------------------P&NG revenue (1) 30,337 19,511 55 18,474----------------------------------------------------------------------------Funds from operations (2) 19,947 11,789 69 11,558---------------------------------------------------------------------------- Per share - basic & diluted 0.19 0.12 58 0.12----------------------------------------------------------------------------Net loss (11,895) (1,164) - (70,980)---------------------------------------------------------------------------- Per share - basic & diluted (0.11) (0.01) - (0.75)----------------------------------------------------------------------------Total capital expenditures 32,473 25,805 26 42,688----------------------------------------------------------------------------Net debt (3) - period end 76,667 64,069 20 49,087----------------------------------------------------------------------------Weighted average basic shares 104,281,424 100,225,439 4 95,233,832----------------------------------------------------------------------------Weighted average diluted shares 104,281,424 100,225,439 4 95,233,832----------------------------------------------------------------------------Issued and outstanding shares (4) 104,281,424 104,281,424 - 96,647,655----------------------------------------------------------------------------Operating Results----------------------------------------------------------------------------Average daily production:---------------------------------------------------------------------------- Natural gas (Mcf/d) 20,057 17,874 12 19,337---------------------------------------------------------------------------- Liquids (Oil & NGLs)(bbls/d) 3,313 1,988 67 1,496---------------------------------------------------------------------------- Oil equivalent (boe/d) 6,656 4,967 34 4,719----------------------------------------------------------------------------Average sales price (1):---------------------------------------------------------------------------- Natural gas ($/Mcf) 3.66 2.47 48 3.41---------------------------------------------------------------------------- Liquids (Oil & NGLs) ($/bbl) 77.37 84.52 (8) 90.11---------------------------------------------------------------------------- Oil equivalent ($/boe) 49.54 42.70 16 42.56----------------------------------------------------------------------------Operating expenses ($/boe) 7.26 9.04 (20) 8.21----------------------------------------------------------------------------Operating netback (5) ($/boe) 36.64 29.55 24 31.35----------------------------------------------------------------------------Wells drilled: gross (net) 6 (6.0) 4 (3.4) 50 7 (5.8)--------------------------------------------------------------------------------------------------------------------------------------------------------Financial Results Fiscal Summary----------------------------------------------------------------------------(thousands except share and per boe data) (6:1 oil equivalent conversion) Year 2012 Year 2011 % change----------------------------------------------------------------------------P&NG revenue (1) 85,993 49,511 74----------------------------------------------------------------------------Funds from operations (2) 51,696 24,406 112---------------------------------------------------------------------------- Per share - basic & diluted 0.52 0.30 73----------------------------------------------------------------------------Net loss (7,819) (74,974) (90)---------------------------------------------------------------------------- Per share - basic & diluted (0.08) (0.93) (91)----------------------------------------------------------------------------Total capital expenditures 94,946 134,897 (30)----------------------------------------------------------------------------Net debt (3) - period end 76,667 49,087 56----------------------------------------------------------------------------Weighted average basic shares 99,520,088 80,455,353 24----------------------------------------------------------------------------Weighted average diluted shares 99,520,088 80,455,353 24----------------------------------------------------------------------------Issued and outstanding shares (4) 104,281,424 96,647,655 8----------------------------------------------------------------------------Operating Results----------------------------------------------------------------------------Average daily production:---------------------------------------------------------------------------- Natural gas (Mcf/d) 18,246 15,568 17---------------------------------------------------------------------------- Liquids (Oil & NGLs)(bbls/d) 2,315 877 164---------------------------------------------------------------------------- Oil equivalent (boe/d) 5,356 3,472 54----------------------------------------------------------------------------Average sales price (1):---------------------------------------------------------------------------- Natural gas ($/Mcf) 2.68 3.86 (31)---------------------------------------------------------------------------- Liquids (Oil & NGLs) ($/bbl) 80.41 86.22 (7)---------------------------------------------------------------------------- Oil equivalent ($/boe) 43.87 39.07 12----------------------------------------------------------------------------Operating expenses ($/boe) 7.97 9.56 (17)----------------------------------------------------------------------------Operating netback (5) ($/boe) 30.40 23.66 28----------------------------------------------------------------------------Wells drilled: gross (net) 17 (15.8) 18 (15.0) (6)----------------------------------------------------------------------------
