Exploration & Production | Quarterly / Earnings Reports
Double Eagle Evaluating Niobrara Well; Talks Financials
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Double Eagle Petroleum Co. reported its financial results for the first quarter ended March 31, 2013.
The Company had a net loss attributable to common stock of $6,107,000, or $0.54 per share for the first quarter of 2013 as compared to a net loss of $603,000, or $.05 per share in the first quarter of 2012. Clean earnings, a non GAAP measure, totaled $3,366,000, or $0.30 per share, for the first quarter of 2013, as compared to $3,713,000 or $0.33 per share for the same prior-year period.
Niobrara UpdateThe Company announced in March 2013 that it had initial oil and gas production from its Niobrara well.
The Company installed a pump in late March 2013 and continues to evaluate the early performance of the Niobrara appraisal well as additional information is obtained.
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