Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Double Eagle's 2013 Results Hit by Lull in Production
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Double Eagle Petroleum Co. reported its financial and operating results for the year ended December 31, 2013. The Company reported a net loss attributable to common stock of $16,796,000, or $1.48 per share for 2013 as compared to a net loss of $14,050,000, or $1.25 per share for 2012.
Clean earnings, a non-GAAP financial measure, totaled $10,167,000, or $0.90 per share, for the year ended December 31, 2013, as compared to $15,200,000 or $1.35 per share for the year ended December 31, 2012. Clean earnings excludes the effects on net 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…
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