Double Eagle Petroleum Co. reported earnings and production results for the first quarter ended March 31, 2013. For the period, the company reported total revenues of $5,713,000 against $13,045,000 a year ago. Pre-tax loss was $7,909,000 against pre-tax income of $475,000 a year ago. Net loss was $5,176,000 against net income of $328,000 a year ago. Net loss attributable to common stock was $6,107,000 or $0.54 basic and diluted per share against net income attributable to common stock of $603,000 or $0.05 basic and diluted per share a year ago. Net cash provided by operating activities was $2,737,000 against $4,716,000 a year ago. For the quarter, the production totaled 2.4 Bcfe, representing a 2% decrease from the comparable 2012 period. The company's average daily net production at its Catalina Unit increased 6%, primarily due to the additional working interest the company acquired from a third-party in the Atlantic Rim in the fourth quarter of 2012. The company also experienced production declines at the Spy Glass Hill Unit as a result of deferred workovers and recompletions by the operator and at the Pinedale Anticline due to the timing of new wells, which were brought on late in the first quarter of 2013.

Double Eagle Petroleum Co. announced that they will report Q1, 2013 results at 9:00 AM, Eastern Standard Time on May 08, 2013

Double Eagle Petroleum Co., Q1 2013 Earnings Call, May 09, 2013