Hyperdynamics Sees New Quarterly High for Production and Revenue
Hyperdynamics Corporation (AMEX:HDY) announced today that its Louisiana based oil production operations reported gross oil sales of approximately 15,592 barrels for the 4th quarter ending June 30, 2008. The Company’s revenue derived from this production is approximately $1,260,000. This sets a new production record and represents the highest quarterly revenue ever for the company.
June oil sales held steady at over 5,200 barrels. These new milestones were set even while production remained constrained by record setting floods experienced along the Mississippi River. The company reported that it received an average price over $130 per barrel for June.
- Published: 11 July 2008
- Written by Editor