المتابع اليومي
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- 11 يوليو 2003
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Dow Jones Business News
Harken Announces Increased Cap Expenditure Budget For 2004
Friday January 30, 12:54 pm ET
HOUSTON (Dow Jones)--Harken Energy Corp. (AMEX:HEC - News) raised its 2004 capital expenditure budget to $18 million, to support drilling in Gulf Coast and Colombia.
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In a press release Friday, the oil and gas drilling company said the budget, a $10 million increase from a year ago, will be funded through projected cash flow and available cash on hand.
About $9 million will be set aside largely for five to seven exploratory and development wells in southern Louisiana, with the remainder covering other Gulf Coast properties off Louisiana and Texas. Drilling is expected to begin on the first well in March.
Harken budgeted the remaining $9 million to drill three development wells in Colombia. Drilling is expected to begin in late February.
"Now that our restructuring plan has been successfully accomplished, and having ended 2003 with cash exceeding outstanding debt, we are focusing our attention on growing our company, and in particular, our reserves and cash flow, " Chairman Alan Quasha said in a press release.
In December, Harken said it retired all $4 million of its outstanding bank debt after selling most of its oil and gas properties in the Texas panhandle.
For 2002, the company reported a loss of $9.94 million, on revenue of $25.7 million.
Shares of Harken Energy recently traded at $1.10, up 7 cents, or 6.8%.
Company Web site: http://www.harkenenergy.com
-Jerry Abejo; Dow Jones Newswires; 201-938-5400
Corrected Jan. 20, 2004 13:45 ET (18:45 GMT)
الترجمة التي فهمتها:
انها ربحانة وتخلصت من الديون
في عليها شراء بكميات كبيرة
Harken Announces Increased Cap Expenditure Budget For 2004
Friday January 30, 12:54 pm ET
HOUSTON (Dow Jones)--Harken Energy Corp. (AMEX:HEC - News) raised its 2004 capital expenditure budget to $18 million, to support drilling in Gulf Coast and Colombia.
ADVERTISEMENT
In a press release Friday, the oil and gas drilling company said the budget, a $10 million increase from a year ago, will be funded through projected cash flow and available cash on hand.
About $9 million will be set aside largely for five to seven exploratory and development wells in southern Louisiana, with the remainder covering other Gulf Coast properties off Louisiana and Texas. Drilling is expected to begin on the first well in March.
Harken budgeted the remaining $9 million to drill three development wells in Colombia. Drilling is expected to begin in late February.
"Now that our restructuring plan has been successfully accomplished, and having ended 2003 with cash exceeding outstanding debt, we are focusing our attention on growing our company, and in particular, our reserves and cash flow, " Chairman Alan Quasha said in a press release.
In December, Harken said it retired all $4 million of its outstanding bank debt after selling most of its oil and gas properties in the Texas panhandle.
For 2002, the company reported a loss of $9.94 million, on revenue of $25.7 million.
Shares of Harken Energy recently traded at $1.10, up 7 cents, or 6.8%.
Company Web site: http://www.harkenenergy.com
-Jerry Abejo; Dow Jones Newswires; 201-938-5400
Corrected Jan. 20, 2004 13:45 ET (18:45 GMT)
الترجمة التي فهمتها:
انها ربحانة وتخلصت من الديون
في عليها شراء بكميات كبيرة