Waldron Energy Corporation Announces Unaudited Earnings and Operational Results for the Second Quarter and Six Months Ended June 30, 2014
For the six months, the company reported operating netback of $4,755,000 or $0.08 basic and diluted per share against $5,461,000 or $0.14 basic and diluted per share a year ago. Petroleum and natural gas sales were $12,578,000 against $11,815,000 a year ago. Funds from operations were $2,522,000 or $0.04 basic and diluted per share against $3,436,000 or $0.09 basic and diluted per share a year ago. Net loss was $1,556,000 or $0.03 basic and diluted per share against $3,198,000 or $0.08 basic and diluted per share a year ago. Capital expenditures, net of dispositions were $5,465,000 against $1,077,000 a year ago. Net debt as on June 30, 2014 was $24,163,000 against $33,680,000 a year ago.
For the quarter, the company reported natural gas production was 6,215 mcf/d compared with 8,751 mcf/d a year ago. NGL production was 271 bbls/d compared with 399 bbls/d a year ago. Light crude oil production was 133 bbls/d compared with 152 bbls/d a year ago. Average production was 1,440 BOE per day compared with 2,010 BOE per day a year ago.
For the six months, the company reported natural gas production was 6,876 mcf/d compared with 9,087 mcf/d a year ago. NGL production was 279 bbls/d compared with 395 bbls/d a year ago. Light crude oil production was 138 bbls/d compared with 154 bbls/d a year ago. Average production was 1,563 BOE per day compared with 2,064 BOE per day a year ago.