Panhandle Oil And Gas Q4 Profit Increases - Quick Facts

(RTTNews) - Panhandle Oil And Gas Inc. (PHX) reported that its fourth quarter net income jumped to $5.72 million or $0.68 per share from $182,621 or $0.02 per share in the same quarter last year.

Net cash provided by operating activities increased 201% to $13.21 million for the 2013 fourth quarter, versus the 2012 fourth quarter.

Total revenues for the 2013 fourth quarter were $18.40 million, increasing 67% from $11.04 million for the 2012 quarter. Oil, NGL and gas sales revenue increased 62% in the 2013 quarter, as compared to the 2012 quarter. This increase was principally a result of a 28% increase in Mcfe production and a 19% increase in the sales price of natural gas.