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Rosetta Resources Announces First Quarter Results; Gives Eagle Ford Shale Drilling Update

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Highlights

Increased daily production by 31 percent with 106 percent growth in total liquids Achieved 11 percent quarter-over-quarter production growth in Eagle Ford shale Sold legacy natural gas assets in South Texas Nearly doubled borrowing base to $625 million

Rosetta Resources Inc. (Nasdaq:ROSE) ("Rosetta" or the "Company") today reported first quarter 2012 net income of $22.3 million, or $0.42 per diluted share, versus net income of $11.0 million, or $0.21 per diluted share, for the same period in 2011. The growth in net income is primarily due to increased production, higher realized prices and a more favorable product mix. The quarter included an unrealized loss on derivative activities of $18.0 million, or an after-tax loss of $11.5 million. Adjusted net…

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Gulf Coast - South Texas News