Quarterly / Earnings Reports | Industry News
Texas-Focused Lucas Details 'Challenging' Quarter
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Lucas Energy Inc. reported third quarter results ending December 31, 2012 for fiscal year 2013.
For the quarter, Lucas reported a net loss of $2.7 million, or $0.10 per diluted share, versus a net loss of $2.2 million, or $0.11 per diluted share, for the same quarter last year. Average production increased 37 percent to 215 net barrels of oil equivalent per day (boe/d) compared to the same quarter last year of 157 net boe/d. Revenue increased 48 percent to $1.9 million compared to $1.3 million the same period last year.
For the nine months ending December 31, 2012, Lucas reported a net loss of $6.2 million, or $0.25 per diluted share, versus $5.1 million, or $0.28 per diluted share, for the same nine month period last year. Average production increased 69 percent to 243 net boe/d…
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