March 25, 2011 / 10:46 AM / 6 years ago

UPDATE 1-Caza Oil fourth-quarter output up 47 pct from Q3

* Q4 rev up 88 pct to $742,402

* FY proven reserves more than doubled (Follows alerts)

March 25 (Reuters) - Caza Oil & Gas said its fourth-quarter production volumes rose 47 percent from the third quarter, helped by strong activity in its Permian Basin at the Windham Wolfberry project in Texas.

The company said its proven reserves more than doubled to 10,396 million cubic feet equivalent (mmcfe) for the year.

The Woodlands, Texas-based oil and natural gas company’s revenue for the fourth quarter rose 88 percent to $742,402, sequentially, helped by successful drilling operations during the last half of year, the company said in a statement.

Caza also said it made good drilling progress in the Windham Wolfberry project in Upton County, and expects to commence operations on a new Permian Basin project and the San Jacinto Wolfberry (oil) project in Midland County, Texas, soon.

Shares of the company closed at C$0.57 on Thursday on the Toronto Stock Exchange. (Reporting by NR Sethuraman; Editing by Unnikrishnan Nair)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below