MIE Holdings Corporation Reports Operational Results for the First Quarter Ended March 31, 2016; Provides Operational Guidance for 2016
MIE Holdings Corporation reported operational results for the first quarter ended March 31, 2016. For the quarter, average daily operated production was 20,536 barrels of oil equivalent/day against 22,462 barrels of oil equivalent/day a year ago. Average daily net production was 11,141 barrels of oil equivalent/day against 11,977 barrels of oil equivalent/day a year ago. Average daily net oil production was 9,618 barrels/day against 10,662 barrels /day a year ago. Average daily net gas production was 9,140 Mcf/day against 7,889 Mcf/day a year ago.
For 2016, the company expects average daily net oil production of 9,24010,540 barrels /day and average daily net gas production of 11,10012,100 Mcf/day.