Exploration & Production | Quarterly / Earnings Reports
FX Energy's Polish Ops Drive Production, Revenues
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FX Energy Inc. reported financial results for its first quarter ended March 31, 2013. The Company reported a first quarter net loss of $11.4 million, or $(0.22) per share.
This compares to net income of $14.7 million, or $0.28 per share, for the first quarter of 2012. Included in the Company's quarterly results were noncash foreign exchange losses of $9.1 million in 2013 and gains of $14.5 million in 2012.
Polish Operations Drive Higher Production and RevenuesTotal revenues for the first quarter of 2013 were $9.5 million. This was up 11% over the $8.6 million of the 2012 first quarter. Gains in both production and natural gas prices contributed to the increase.
Total net oil and gas production was 1,261 million cubic feet equivalent (Mmcfe) during the first quarter of 2013, a daily…
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