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Last $0.17 USD
Change Today -0.03 / -15.00%
Volume 21.0K
ANFC On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

black ridge oil and gas inc (ANFC) Snapshot

Open
$0.20
Previous Close
$0.20
Day High
$0.20
Day Low
$0.17
52 Week High
09/2/14 - $0.78
52 Week Low
08/13/15 - $0.12
Market Cap
8.2M
Average Volume 10 Days
24.9K
EPS TTM
$-0.41
Shares Outstanding
48.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for BLACK RIDGE OIL AND GAS INC (ANFC)

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black ridge oil and gas inc (ANFC) Details

Black Ridge Oil & Gas, Inc. focuses on the acquisition, exploration, development, and production of crude oil and natural gas properties primarily in the Bakken and Three Forks trends in North Dakota and Montana. As of December 31, 2014, the company had proven oil and gas reserves of 5.4 million barrels of oil equivalents. It also controls approximately 9,400 net acres in the Williston Basin; and owns working interests in approximately 349 gross wells. The company was formerly known as Ante5, Inc. and changed its name to Black Ridge Oil & Gas, Inc. in April 2012. Black Ridge Oil & Gas, Inc. was founded in 2010 and is based in Minnetonka, Minnesota.

8 Employees
Last Reported Date: 03/30/15
Founded in 2010

black ridge oil and gas inc (ANFC) Top Compensated Officers

Chief Executive Officer
Total Annual Compensation: $275.2K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $188.6K
Chief Operating Officer
Total Annual Compensation: $153.4K
Compensation as of Fiscal Year 2014.

black ridge oil and gas inc (ANFC) Key Developments

Black Ridge Oil & Gas, Inc Reports Unaudited Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015; Announces Impairment Charges for the Second Quarter of 2015; Reaffirms Production Guidance for the Year 2015

Black Ridge Oil & Gas Inc. reported unaudited earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company's total revenues were $3,941,123 compared to $4,410,154 a year ago. In the second quarter of 2015, oil and gas sales, excluding the impact of settled derivatives, were $5.05 million, a decrease of 9% as compared to the second quarter of 2014. Net operating loss was $23,086,822 compared to net operating income of $444,048 a year ago. Loss before provision for income taxes was $24,627,287 compared to $849,075 a year ago. Net loss was $18,669,638 compared to $543,360 a year ago. Adjusted net loss was $973,483 compared to adjusted net income of $11,764 a year ago. Adjusted net loss per common share – basic and fully diluted was $0.02. Adjusted EBITDA was $3,617,551 compared to $3,614,774 a year ago. For the six months, the company's total Revenue was $8,328,329 compared to $8,110,376 a year ago. Net operating loss was $23,427,901 compared to net operating income of $861,365 a year ago. Loss before provision for income taxes was $26,535,614 compared to $1,514,658 a year ago. Net loss was $19,942,574 compared to $924,920 a year ago. Net cash provided by operating activities was $5,544,080 compared to $2,012,131 a year ago. Purchases of oil and gas properties and development capital expenditures was $12,677,179 compared to $11,731,981 a year ago. Adjusted net loss was $2,521,748 compared to $234,761 a year ago. Adjusted net loss per common share – basic and fully diluted was $0.05 compared to $0.01 a year ago. Adjusted EBITDA was $5,712,296 compared to $5,989,728 a year ago. The company also announced impairment of oil and gas properties of $21,639,000 for the second quarter of 2015. Quarterly production increased 57% over the second quarter of 2014 to 102,182 barrels of oil equivalent, an average of approximately 1,123 barrels of oil equivalent per day. Natural gas (Mcf) was 72,381 compared to 37,482 a year ago. Oil (Bbl) was 90,118 compared to 58,812 a year ago. For the six months, the company's natural gas (Mcf) was 170,695 compared to 61,819 a year ago. Oil (Bbl) was 163,041 compared to 101,967 a year ago. Barrel of oil equivalent (Boe) was 191,490 compared to 112,270 a year ago. The company is very encouraged by the production rates achieved during flowback, it is not updating full year production guidance of 1,200 Boe/d until receive clarity on the timing of the facility completion.

Black Ridge Oil & Gas, Inc. Announces Equity Joint Venture with Merced Capital

Black Ridge Oil & Gas Inc. announced that the company has signed a definitive agreement with Merced Capital to form an entity that will acquire and develop Williston Basin non-operated assets. The joint venture will be funded by Merced with an initial investment target of $50 Million. Investments will be subject to Merced approval, and will be managed by Black Ridge. The joint venture assets will be managed by Black Ridge in exchange for a management fee and reimbursement of third party expenses, and after certain investor hurdles are met Black Ridge will receive a share of profits in the venture. Black Ridge will also have the option to co-invest up to 25% on acquisitions and capital expenditures alongside the venture and any such co-investments will reside directly within Black Ridge. Upon the sale of joint venture assets, Black Ridge will also have the option to bid and acquire the assets. Strategic advantages expected for Black Ridge: Provides Black Ridge with the opportunity to participate in high return capital projects without diluting existing shareholders; Provides Black Ridge the potential to achieve significant equity returns with its share of the joint venture profits and the option to co-invest alongside the joint venture; Creates a long-term partnership with a private capital provider that is scalable and repeatable.

Black Ridge and Merced Seek Acquisitions

Merced Capital, L.P. and Black Ridge Oil & Gas, Inc (OTCPK:ANFC) are seeking acquisition opportunities. Ken DeCubellis, Black Ridge's Chief Executive Officer, commented, "the partnership with Merced provides Black Ridge the opportunity to participate in the acquisition and development of additional assets at attractive valuations, with the potential to create significant returns for Black Ridge's shareholders without dilution."

 

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