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Caza Plans to Ramp Up Bone Spring Ops; Talks 2Q Financials
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Caza Oil & Gas, Inc. reported its results for the three-months ended June 30, 2015. The Company's revenues are down, owing to lower commodity prices during the period and reduced production volumes as a result of the Company's prudent decision to cut back on capital expenditures until operational costs adjust to appropriately reflect the current pricing environment and/or prices rebound allowing for greater return on investment.
Unaudited Second Quarter Financial Results Caza's revenues from oil and natural gas sales decreased 13% to US$2,941,812 compared to US$3,367,214 in Q1 2015. This also represents a decrease of 53% for Q2 2015 from US$6,286,049 for the comparative period in 2014.Adjusted EBITDA increased 35% to US$3,721,726 compared to US$2,756,895 in Q1 2015. This also represents…
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