Finance & Investing | Capital Markets
Plains Exploration Reports 3Q 2012 Net Loss
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Plains Exploration & Production Company announces 2012 third-quarter financial and operating results.
Financial Summary
PXP reported third-quarter revenues of $605.1 million and a net loss attributable to common stockholders of $53.1 million, or $0.41 per diluted share, compared to revenues of $501.8 million and a net loss of $88.3 million, or $0.62 per diluted share, for the third-quarter 2011.
The third-quarter net income attributable to common stockholders includes certain items affecting the comparability of operating results. Those items consist of realized and unrealized gains and losses on our mark-to-market derivative contracts resulting in a net loss of $100.2 million due in large part to increased crude oil forward prices, a $43.1 million unrealized loss on investment in McMoRan…
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