Petrodelta Announces Production and Revenue Results for the Second Quarter of 2014
Aug 11 14
Petrodelta announced production and revenue results for the second quarter of 2014. For the quarter, the company reported oil production average approximately 45,000 b/d in the second quarter, up 18% from the year-ago quarter. Current production is averaging about 41,000 b/d, with a few wells offline and waiting to be serviced.
For the quarter, the company generated USD 244 million in net revenue compared to USD 211 million in 2013's second quarter.
Petrodelta S.A. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Announces Production Results for the Third Quarter Ended September 30, 2013; Provides Production and Capital Expenditures Guidance for the Year 2013
Nov 12 13
Petrodelta S.A. announced unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenues of $240,356,000 against $216,872,000 a year ago. Income from operations was $107,300,000 against $80,133,000 a year ago. Income before income tax was $115,703,000 against $77,160,000 a year ago. Net income was $96,633,000 against $45,719,000 a year ago. Net income equity affiliate was $70,112,000 against $48,388,000 a year ago. Net income from equity affiliate was $25,747,000 against $20,299,000 a year ago. Cash from operations was $65,642,000 against $66,720,000 a year ago. Adjusted EBITDA was $130,396,000 against $102,371,000 a year ago.
For the nine months, the company reported revenues of $664,129,000 against $648,141,000 a year ago. Income from operations was $288,559,000 against $251,709,000 a year ago. Income before income tax was $508,797,000 against $244,135,000 a year ago. Net income was $349,100,000 against $170,240,000 a year ago. Net income equity affiliate was $228,776,000 against $145,375,000 a year ago. Net income from equity affiliate was $82,820,000 against $60,024,000 a year ago. Cash from operations was $100,576,000 against $199,997,000 a year ago. Adjusted EBITDA was $352,989,000 against $313,587,000 a year ago.
For the third quarter of 2013, the company drilled and completed four wells and sold approximately 3.8 million barrels of oil (MMBO) for a daily average of approximately 41,726 barrels of oil per day (BOPD), an increase of 9% over the same period in 2012. The company’s current production rate is approximately 44,000 BOPD. The company also sold 0.6 billion cubic feet of natural gas for a daily average of 6.5 million cubic feet per day.
The company provided production and capital expenditures guidance for the year 2013. For the year, the company expects average production rate is 40,400 BOPD with capital expenditures projected at $210.0 million.