Granite Oil Corp. Reports Unaudited Earnings and Operating Results for the First Quarter Ended March 31, 2019
Granite Oil Corp. reported unaudited earnings and operating results for the first quarter ended March 31, 2019. For the quarter, the company reported oil and natural gas revenues of $9,296,000 compared to $10,675,000 a year ago. Net loss was $1,884,000 or $0.05 per basic and diluted share compared to $3,353,000 or $0.10 per basic and diluted share a year ago.
For the quarter, the company reported natural gas production of 189 mcf/d compared to 289 mcf/d a year ago. Crude oil production was 1,553 bbls/d compared to 2,157 bbls/d a year ago. Total production was 1,585 boe/d compared to 2,205 boe/d a year ago.