Viking Energy Group Announces Record Annual Results
VIKING ENERGY GROUP INC (VKIN)
NASDAQ:AMEX Investor Relations:
vikingenergygroup.com
Company Research
Source: GlobeNewswire
Revenues of $34.6 Million Adjusted non-GAAP - EBITDA of $17.16 Million Hedging Strategy will Supplement Revenues during COVID-19 Pandemic HOUSTON, TX, March 31, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Viking Energy Group, Inc. (OTCQB: VKIN) (“Viking” or the “Company”), an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in the onshore Gulf Coast and Mid-Continent regions, announced yesterday financial results for the year ended December 31, 2019. Key Financial Highlights for 2019 (all figures are approximate): Revenues increased 335% to $34.59 million as compared to $7.96 million in 2018. Adjusted EBITDA was $17.16 million in 2019, as calculated by the Company below, as compared to $(2.51) million in 2018. Revenue in excess of lease operating costs increased to $22.39 million (65% of total revenue) as compared to $4.13 million (52% of total revenue) for 2018. Lease operating costs as
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