Emerald Oil (EOX -0.5%) raises its 2013 production guidance by 30% to ~2,600 boe/day from a...

|About: Emerald Oil, Inc. (EOX)|By:, SA News Editor

Emerald Oil (EOX -0.5%) raises its 2013 production guidance by 30% to ~2,600 boe/day from a prior estimate of 2,000 and lifts its capex budget to $110M from $72M as it agrees to issue and sell $50M of perpetual preferred stock to P-E firm White Deer Energy. EOX plans to use the proceeds to purchase additional working interests in its operated drilling spacing units in North Dakota.