Exploration & Production | Quarterly / Earnings Reports
Double Eagle Sees Production Drop; Cites Equipment Challenges
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Double Eagle Petroleum Co. has reported its financial and operating results for the third quarter ended September 30, 2013.
The Company had a net loss attributable to common stock of $2,782,000, or $0.25 per share for the third quarter of 2013 as compared to a net loss of $4,498,000, or $0.40 per share for the third quarter of 2012.
Clean earnings, a non GAAP measure, totaled $2,665,000, or $0.23 per share, for the third quarter of 2013, as compared to $3,843,000 or $0.34 per share for the same prior-year period. Clean earnings excludes the effects on net income (loss) of non-cash charges, consisting of depreciation, depletion and amortization expense, unrealized gains and losses related to the Company's economic hedges, impairment charges and stock-based compensation expense. Clean…
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