Exploration & Production | Deals - Joint Ventures | Quarterly / Earnings Reports | Production | Third Quarter (3Q) Update
ZaZa Highlights Eaglebine Quantum JV, 145% Jump in Production
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ZaZa Energy Corporation announced results for its third quarter and for the nine months ended September 30, 2014.
Financial Highlights:Total production of 54.8 MBOE, a year-over-year increase of 145%. Revenues of $2.7 million, a year-over-year increase of 144%. Total operating expenses declined by ~60%; G&A declined by ~30%. Net income of $10.1 million vs. a net loss of $20.6 million. Total debt declined by $7.7 million or ~8% over the past nine-months (3Q14 vs. CY13). Corporate Highlights for Third Quarter 2014 Closed East Texas Purchase and Sale Agreement with Quantum Energy Partners. ZaZa received $11 million in cash as the initial consideration and in exchange, assigned to Quantum 6,000 net acres in undeveloped leases within ZaZa's "Southern Development Area" in East…
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