Exploration & Production
Transatlantic Petroleum Pulls Out of Poland Acquisition
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TransAtlantic Petroleum Ltd. has announced financial results for the quarter ended March 31, 2014, disclosed terms of its new credit facility and provided updates on its operations and potential acquisition in Poland.
Highlights Average net sales for the first quarter of 2014 were 4,622 BOEPD, a 5% increase over the fourth quarter of 2013 and a 12% increase over the first quarter of 2013 Net income from continuing operations for the first quarter of 2014 was $4.0 million Adjusted EBITDAX from continuing operations for the first quarter of 2014 was $21.9 million, a 5% increase over the fourth quarter of 2013 and a 15% increase over the first quarter of 2013 (Adjusted EBITDAX is a non-GAAP financial measure that is defined and reconciled to net income at the end of this press release)Firs…
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