Delphi Energy, symbol DEE on Toronto, explores for oil and gas in Alberta and B.C. Natural gas makes up 76% of its daily output; the remaining 24% is oil.
In the three months ended December 31, 2010, the commodity investment reported combined daily output of natural gas, liquid natural gas and crude oil rose 24.0%, to 8,539 barrels of oil equivalent from 6,888 barrels a year earlier.
Delphi’s cash flow rose 26.5%, to $18.0 million from $14.2 million. Its cash flow per share rose 14.3%, to $0.16 a share from $0.14 a share.
Delphi Energy now owns 244,475 acres of undeveloped land, up 42% from the start of 2010. That gives the commodity investment lots of drilling targets to further increase its output. Delphi expects to increase its daily output to as high as 9,200 barrels in 2011.
The company holds cash of $4.2 million, or $0.04 a share. Its $105.0 million of long-term debt is a manageable 37.1% of its market cap.
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