Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Abraxas Sees 'Tremendous' Financial Year in 2013; Details Divestitures
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Abraxas Petroleum Corporation reported financial and operating results for the three and twelve months ended December 31, 2013.
4Q 2013 Financial and Operating ResultsThe three months ended December 31, 2013 resulted in:
Production of 376 MBoe (4,084 Boepd) Revenue of $22.5 million Adjusted EBITDA(a) of $8.2 million inclusive of Raven Drilling Adjusted discretionary cash flow(a) of $7.3 million inclusive of Raven Drilling Net income of $27.0 million, or $0.29 per share Adjusted net loss(a), excluding certain non-cash items and inclusive of Raven Drilling of $2.3 million, or $0.03 per share(a) See reconciliation of non-GAAP financial measures below.
Net income for the three months ended December 31, 2013 was $27.0 million, or $0.29 per share, compared to a net loss of $11.9 million…
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