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Double Eagle Talks 2012 Results; Niobrara, Pinedale Plans
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Double Eagle Petroleum Co. has reported its financial results for the year ended December 31, 2012.
The Company had net loss attributable to common stock of $14,050,000, or $1.25 per share, for 2012 as compared to net income of $7,964,000, or $0.71 per share, for 2011. Clean earnings, a non GAAP measure, totaled $15,200,000, or $1.35 per share, for 2012, as compared to $21,068,000 or $1.88 per share, in 2011.
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 earnings also excludes the impact of income taxes, as the Company does not expect to pay income tax in…
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