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Endeavour Operational And Guidance Update Suggests Potentially Significant Gains
About: Endeavour International Corporation (END)
The June 10, 2014 operational and guidance update reflects progress made by the company to stabilize and improve operation of its valuable assets.
The company has made significant progress improving its balance sheet. This continues to be the highest priority now and in the future.
The June 10 raised guidance suggests that Q2 2014 could turn out to be profitable since many one-time charges applied in Q1 2014 won't occur in 2Q.
Endeavour International Corp. (NYSE:END) is an independent oil and gas company engaged in the exploration, development and acquisition of energy reserves in the U.S. and United Kingdom. It has three producing fields in the United Kingdom, including Alba, Bittern and Bacchus, as well as three development projects, including Bacchus, Greater Rochelle and Columbus. The company also has interests in the Pennsylvania Marcellus area; Haynesville producing project areas in Louisiana; and Heath Shale Oil Play in Montana, the United States. As of December 31, 2013, Endeavour had estimated proved reserves of 23.5 million barrels of oil equivalent, or $2.4 billion at current oil prices. The company was founded by William L. Transier and John N. Seitz in February 2004 and is headquartered in Houston, TX.