Meanwhile, the first nine-month sales figure for 2007 stood at $1.04 billion compared to $936.5 million in 2006. Funds generated from operations stood at $376.3 million for the nine-month period in 2007.
The company’s net income for the first nine months of 2007 stood at $259.5 million. The selling price for the crude oil sold by the company averaged at $61.84 per barrel compared to $61.78 for the nine-month period a year ago.
The company’s net share of operated and non-operated oil produced was 64,700 barrels per day for the nine-month period compared to 67,600 barrels per day in the previous year. The 4.3% decrease in production can be attributed primarily to the natural decline of the fields, which was not offset by new production or well workovers.
