Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Par Petroleum Shows Net Loss in First Quarter
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Par Petroleum Corporation has reported a first quarter 2014 net loss of $14.6 million and negative Adjusted EBITDA of $8.9 million.
The company also reported restated 2013 full year net loss of $79.2 million and restated negative Adjusted EBITDA $24.7 million.
William Monteleone, Chairman and Chief Executive Officer said: "While this has been a challenging transition for us, I am pleased to report that during May we completed the integration of Hawaii Independent Energy’s information and accounting systems and are now managing these systems internally.
Separate from the accounting integration, we have made great progress in improving operating results and repositioning the Company for future growth. These improvements were achieved notwithstanding the continued negative impact of…
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