Aurora Oil & Gas $294.8m Revenue FY 2012

Submitted by Share Trading on 6 March, 2013 - 08:59

Texas focused Oil and Shale gas company, Aurora Oil and Gas (ASX:AUT) have announced its full year financial results for 2012 to its shareholders and investors on the Australian stockmarket.

  • Aurora Oil and Gas have announced revenue of US$295 million for the year, up 293 percent.
  • Aurora Oil & Gas also reported an EBITDAX (earnings before interest, taxation, depreciation, amortisation and exploration) US$167 million up 320 percent.
  • The company has acquired a highly-prospective oil and shale gas property in South Texas for US$117.5 million.
  • Aurora Oil and Gas acquired 2,700 acres near the Sugarkane field in South Texas, part of the liquids-rich Eagle Ford shale trend. Aurora already owns 77,000 acres in the Eagle Ford shale gas trend.
  • The US$117.5 million investment will be funded through existing and new debt facilities, with Aurora Oil & Gas also announcing a new US$125 million bridge loan facility with Credit Suisse.
  • Aurora Oil and Gas did not declare a dividend.

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