Central Natural Resources Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012
November 27, 2012
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Central Natural Resources Inc. reported Unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2012. For the quarter, the company reported total operating revenue of $503,156 against $869,994 a year ago. Operating income was $62,534 against $411,325 a year ago. Earnings before income taxes were $66,699 against $404,927 a year ago. Net earnings were $52,448 or $0.10 per diluted share against $269,355 or $0.48 per diluted share a year ago.
For the nine months, the company reported total operating revenue of $1,755,076 against $2,563,788 a year ago. Operating income was $276,344 against $1,074,393 a year ago. Earnings before income taxes were $288,449 against $1,110,664 a year ago. Net earnings were $215,563 or $0.39 per diluted share against $741,534 or $1.33 per diluted share a year ago. Net cash used in operating activities was $72,517 against net cash provided by operating activities of $1,394,887 a year ago. Oil and Gas capital expenditures were $284,156 against $84,740 reported last year.
Central Natural Resources, Inc. is an independent energy company. The Company is focused on the ownership and management of mineral properties and working interests in oil and gas. The Company's operations concentrate on domestic, onshore properties, with producing properties located in Texas, Louisiana, and the Arkoma Basin. It holds both steam coal and metallurgical coal deposits of over 175 million tons, situated in western Arkansas, eastern Oklahoma, north-eastern Oklahoma, and south-eastern Kansas. It holds mineral interests in the Arkoma Basin (Arkansas and Oklahoma) where it leases properties for exploration and development. It maintains mineral interests in Beauregard Parish, LA, a portion of which is developed and is producing, and it owns interests in production in Lafourche Parish, LA. The Company's wholly owned subsidiary, CNR Production (CNR), conducts oil and gas working interest activities domestically. CNR owns working interests in producing wells.