MIE Holdings Corporation Reports Operations Results for the Third Quarter of 2012; Provides Production Guidance for the Fourth Quarter of 2012; Plans to Drill Approximately 452 Gross Wells
USD 114.60 in the first half of 2012, a decrease of USD 12.44 or 10.9%. Realized price in the third quarter of 2012 was USD 1.14 per MCF, a decrease of USD 0.01 or 1.2%.
For the fourth quarter of 2012 the company estimates the group's daily net production will average approximately 15,609 BOPD.
The group also made significant progress on its 2012 investment plan, drilling 127 gross (112.9 net) wells with no dry holes, including 5 gross (3.0 net) exploration wells and 2 gross (1.8 net) horizontal wells. By the end of 2012 the company plans to have drilled a total of approximately 452 gross (401.4 net) wells.