WestFire Provides First Quarter Operations UpdateApril 17, 2012
WestFire exited the first quarter with field estimated production in excess of 11,000 boepd (70 percent oil and natural gas liquids) with an additional 17 (15.8 net) Viking horizontal oil wells awaiting completion. During the first quarter, WestFire’s production averaged 8,900 boepd for an increase of 221 percent over the same period in the prior year, or a 62 percent increase per diluted share. First quarter production was adversely impacted by the unscheduled shut-down of the third-party operated KA gas plant facility at Kaybob South for a total of 28 days between February 27, 2012 and March 25, 2012. Without the shut-down of the KA plant, first quarter production would have averaged approximately 9,600 boepd.