London-listed Nighthawk Energy posted its first profit as it booked a 12-fold increase in revenue for 2013.

The company posted a profit of $20.1 million for the year, compared to a loss of $21.7 million during 2012.

The company’s first profit came as revenues rose to $26.2 million, compared to just $1.6 million a year earlier.

Driving the jump in revenues was an increase in production which rose from an average of 280 barrels per day in January last year to 1556 barrels per day by December.

Nighthawk said the new record levels of production were driven by six new wells being drilled and brought into production from late May onwards, primarily at the Arikaree Creek field.