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Rosetta Ramping Up Eagle Ford Ops; Talks Latest Wolfcamp Well IPs
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Rosetta Resources Inc. reported first quarter 2014 net income of $35.2 million, or $0.57 per diluted share, versus net income of $53.5 million, or $1.01 per diluted share, for the same period in 2013.
Adjusted net income (non-GAAP) for the quarter was $45.6 million, or $0.74 per diluted share, excluding an after-tax unrealized loss on derivatives of $10.1 million, versus adjusted net income of $62.5 million, or $1.18 per diluted share in 2013. The decrease in adjusted net income was primarily due to higher operating costs offset by higher production and realized prices.
Jim Craddock, Rosetta's Chairman, CEO and President, commented: "Rosetta is off to a great start in 2014 continuing our trend of production growth. Our first quarter results are in line with our expectations and we are on…
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