2003 Highlights
2003 set new corporate records for revenues, net income, cash flow and production -
- 2003 Revenues - $235.1 million
- 2003 Net Income - $53.4 million
- 2003 Cash Flow From Operations - $152.0
- 2003 Production – 44.0 Bcfe
Our balance sheet improved in 2003 -
- We reduced our long-term debt by $60.0 million
- We lowered our debt to capitalization ratio from 62% in 2002 to 51%.
Our drilling program delivered excellent results in 2003 –
- 45 out of 53 wells drilled were successful – 85% success rate
- Replaced 108% of 2003 production
-