HOUSTON, Feb. 11 /PRNewswire-FirstCall/ -- Bois d'Arc Energy, Inc. ("Bois d'Arc" or the "Company") (NYSE: BDE) today reported financial and operating results for the quarter and year ended December 31, 2007.

Fourth Quarter and Annual 2007 Financial Results

Bois d'Arc reported net income of $28.1 million, or 42 cents per diluted share, for the three months ended December 31, 2007 as compared to 2006's fourth quarter net income of $11.9 million, or 18 cents per diluted share. The strong growth in profits in the quarter was driven primarily by production growth and improved oil and gas prices. Bois d'Arc's production in the fourth quarter of 2007 increased to 10.7 billion cubic feet equivalent of natural gas ("Bcfe"), 20% higher than production of 8.9 Bcfe in the fourth quarter of 2006. Bois d'Arc's average realized oil price in 2007's fourth quarter of $91.51 per barrel increased 58% over 2006's fourth quarter average oil price of $57.77 per barrel. The Company's average realized natural gas price of $7.48 per Mcf in 2007's fourth quarter was 10% higher than the $6.78 per Mcf realized in 2006's fourth quarter. The growth in production combined with stronger oil and gas prices resulted in a 51% increase in Bois d'Arc's fourth quarter oil and gas sales to $100.2 million from $66.3 million in 2006's fourth quarter. The higher revenues also drove cash flow higher in the quarter. Operating cash flow (before changes in working capital accounts) of $70.7 million in the fourth quarter was 57% higher than 2006's fourth quarter cash flow of $45.0 million. EBITDAX, or earnings before interest, taxes, depreciation, depletion, amortization, exploration expense and other noncash expenses increased 63% to $81.8 million over 2006's fourth quarter EBITDAX of $50.1 million.

For the year ended December 31, 2007, Bois d'Arc reported net income of $78.7 million or $1.17 per diluted share as compared to net income of $55.0 million (84 cents per diluted share) for the year ended December 31, 2006. Oil and gas sales for 2007 increased 40% to $355.5 million as compared to $254.7 million for 2006. Production in 2007 of 42.2 Bcfe increased 34% over 2006 production of 31.5 Bcfe. Prices realized by the Company during 2007 averaged $7.19 per Mcf of natural gas and $74.15 per barrel of oil as compared to $7.13 per Mcf of natural gas and $64.66 per barrel of oil in 2006. Operating cash flow (before changes in working capital accounts) in 2007 was $261.8 million as compared to $181.2 million in 2006. EBITDAX totaled $291.2 million in 2007 as compared to $197.2 million in 2006.

2007 Drilling Results

Bois d'Arc made capital expenditures of $206.9 million during 2007 for its exploration and development activities and spent an additional $7.0 million on geological and geophysical costs primarily for 3-D seismic data acquisition. Bois d'Arc successfully replaced 228% of 2007's production primarily through its 2007 drilling program and improved recovery resulting from the successful M-8 sand water flood project at the Ship Shoal 113 unit. In 2007, Bois d'Arc drilled seven (6.6 net) successful wells out of a total of 15 (12.0 net) wells drilled with eight (5.4 net) dry holes. The largest discoveries made in 2007 included a well drilled at Ship Shoal block 93, which proved up the "Walleye" prospect, a second well drilled at South Timbalier block 75 which extended its "Doc Holliday" discovery made in 2005, and the ultra deep well drilled at South Timbalier block 81 which proved up the "Butch Cassidy" prospect. Bois d'Arc also drilled three successful wells as part of its M-8 sand water flood project in the Ship Shoal 113 unit. During the fourth quarter of 2007, Bois d'Arc drilled a successful development well at Ship Shoal block 119 with the OCS-G 69 #25 well which was drilled to a depth of 10,108 feet and encountered 89 net feet of pay sands in three commercial reservoirs.

Bois d'Arc's 2008 drilling program is off to a strong start with two successful development wells. The OCS-G 24922 #1 at Ship Shoal block 97 was drilled to a depth of 12,983 feet and encountered 71 net feet of pay in two high quality sands. First production for the well is expected in February. Bois d'Arc has a 78% working interest in this well. The second successful development well was drilled to test the "Perch" prospect at Ship Shoal block 120. The OCS-G 24926 #1 was drilled to a depth of 5,000 feet to develop multiple previously proven undeveloped shallow gas reservoirs within the Ship Shoal block 113 field area. The well encountered 109 feet of pay in eight objective sands. First production for the well is expected in the second quarter. Bois d'Arc has a 100% working interest in this well. Bois d'Arc is currently drilling an 18,500 foot exploratory well to test its "Chinook" prospect at South Pelto block 21.

This press release may contain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties which could cause actual results to differ materially from those described herein. Although the Company believes the expectations in such statements to be reasonable, there can be no assurance that such expectations will prove to be correct.



    Bois d'Arc Energy is a growing independent exploration company engaged in
the discovery and production of oil and natural gas in the Gulf of Mexico.
The Company's stock is traded on the New York Stock Exchange under the symbol
"BDE".



                           BOIS d'ARC ENERGY, INC.
                        CONSOLIDATED OPERATING RESULTS
                   (In thousands, except per share amounts)

                                 Three Months Ended            Year Ended
                                    December 31,              December 31,
                                 2007         2006         2007        2006

    Oil and gas sales         $100,245      $66,274     $355,460    $254,710
    Operating expenses:
      Oil and gas operating     16,282       15,601       58,841      53,400
      Exploration                2,982        2,390       36,040      18,708
      Depreciation, depletion
       and amortization         29,712       24,971      115,285      77,591
      Impairment                     -          200          344       1,632
      General and
       administrative, net       5,830        2,462       14,869      11,374

        Total operating
         expenses               54,806       45,624      225,379     162,705

    Income from operations      45,439       20,650      130,081      92,005

    Other income (expenses):
      Interest income              115           89          512         330
      Other income                 152          128          541         597
      Interest expense          (1,985)      (2,168)      (9,033)     (6,696)

        Total other expenses    (1,718)      (1,951)      (7,980)     (5,769)

    Income before income
     taxes                      43,721       18,699      122,101      86,236
    Provision for income
     taxes                     (15,584)      (6,823)     (43,431)    (31,212)

    Net income                 $28,137      $11,876      $78,670     $55,024

    Net income per share:
      Basic                      $0.43        $0.18        $1.20       $0.87
      Diluted                    $0.42        $0.18        $1.17       $0.84

    Weighted average common
     and common stock equivalent
     shares outstanding:
      Basic                     65,676       65,128       65,392      63,391
      Diluted                   67,574       66,831       67,224      65,278



                           BOIS d'ARC ENERGY, INC.
                        CONSOLIDATED OPERATING RESULTS
                                (In thousands)

                                  Three Months Ended           Year Ended
                                    December 31,              December 31,
                                 2007         2006         2007        2006

    Cash flow from operations:
      Net cash provided by
       operating activities    $68,670      $40,438     $244,673    $178,409
      Excess tax benefit from
       stock-based compensation     71            -           94          29
      Increase in accounts
       receivable                8,012       10,604        3,498       4,628
      Increase (decrease) in
       prepaid expenses         (2,513)      (1,875)      (2,682)      1,300
      Decrease (increase) in
       accounts payable and
       accrued expenses         (3,512)      (4,187)      16,204      (3,172)
        Cash flow from
         operations            $70,728      $44,980     $261,787    $181,194

    EBITDAX:
      Net income               $28,137      $11,876      $78,670     $55,024
      Interest expense           1,985        2,168        9,033       6,696
      Income tax expense        15,584        6,823       43,431      31,212
      Depreciation, depletion
       and amortization         29,712       24,971      115,285      77,591
      Impairment                     -          200          344       1,632
      Stock-based compensation   3,368        1,665        8,373       6,377
      Exploration expense        2,982        2,390       36,040      18,708
        EBITDAX                $81,768      $50,093     $291,176    $197,240



                                                        As of December 31,
                                                       2007           2006
    Balance Sheet Data:
      Cash and cash equivalents                      $18,841         $9,487
      Other current assets                            47,461         47,307
      Property and equipment, net                    887,270        827,795
      Other                                            3,064            912
        Total assets                                $956,636       $885,501

      Current liabilities                            $47,377        $68,868
      Long-term debt                                  80,000        100,000
      Deferred income taxes                          181,667        151,959
      Reserve for future abandonment costs            45,094         48,064
      Stockholders' equity                           602,498        516,610
        Total liabilities and stockholders' equity  $956,636       $885,501



                           BOIS d'ARC ENERGY, INC.
                        CONSOLIDATED OPERATING RESULTS
                   (In thousands, except per unit amounts)

                                                        Three Months Ended
                                                           December 31,
                                                        2007           2006

    Oil production (thousand barrels)                    438            350
    Gas production (million cubic feet - Mmcf)         8,050          6,795
    Total production (Mmcfe)                          10,676          8,894

    Oil sales                                        $40,051        $20,206
    Gas sales                                         60,194         46,068
        Total oil and gas sales                     $100,245        $66,274

    Average oil price (per barrel)                    $91.51         $57.77
    Average gas price
     (per thousand cubic feet - Mcf)                   $7.48          $6.78
    Average price (per Mcf equivalent)                 $9.39          $7.45
    Lifting cost (1)                                 $16,282        $15,601
    Lifting cost (per Mcf equivalent)                  $1.53          $1.75

    Oil and gas capital expenditures:
      Acquisition of producing properties                 $-           $978
      Leasehold costs                                  7,186           (137)
      Exploration drilling                             6,957         24,780
      Development drilling                             5,212            765
      Other development costs                         20,439         26,426
        Total                                        $39,794        $52,812

    (1)  Includes production taxes of $775 and $353 for the three months ended
         December 31, 2007 and 2006, respectively.



                                                            Year Ended
                                                            December 31,
                                                        2007           2006

    Oil production (thousand barrels)                  1,671          1,383
    Gas production (million cubic feet - Mmcf)        32,186         23,183
    Total production (Mmcfe)                          42,211         31,481

    Oil sales                                       $123,895        $89,421
    Gas sales                                        231,565        165,289
        Total oil and gas sales                     $355,460       $254,710

    Average oil price (per barrel)                    $74.15         $64.66
    Average gas price
     (per thousand cubic feet - Mcf)                   $7.19          $7.13
    Average price (per Mcf equivalent)                 $8.42          $8.09
    Lifting cost(2)                                  $58,841        $53,400
    Lifting cost (per Mcf equivalent)                  $1.39          $1.70

    Oil and gas capital expenditures:
      Acquisition of producing properties                 $-        $19,156
      Leasehold costs                                  8,913          1,971
      Exploration drilling                            89,232        128,983
      Development drilling                            46,480         23,360
      Other development costs                         62,238         71,140
        Total                                       $206,863       $244,610

    (2)  Includes production taxes of $2,495 and $1,577 for the year ended
         December 31, 2007 and 2006, respectively.

SOURCE Bois d'Arc Energy, Inc.