Exploration & Production | Operational Updates | Quarterly / Earnings Reports
Endeavour Sees Drop in Production Over Previous Year
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Endeavour International Corporation has reported third quarter 2013 net loss, as adjusted of $34.7 million compared to a net loss, as adjusted of $13.6 million for the same period in 2012. On a GAAP basis, net loss for the third quarter of 2013 was $40.3 million as compared to net loss of $34.2 million for the same quarter in 2012.
Third quarter 2013 sales and production numbers were impacted by the annual summer maintenance period in the U.K. North Sea and the timing of liftings at the Alba field during the period. Sales volumes for the third quarter of 2013 were 4,725 barrels of oil equivalent per day ("boepd"), compared to 11,006 boepd for the same quarter in the prior year. Physical production for the third quarter of 2013 averaged 7,980 boepd compared to 10,724 boepd for the same…
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