Isramco Inc. announced unaudited earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues of $21,368,000 compared to $11,452,000 a year ago. Operating income was $8,036,000 compared to $779,000 a year ago.

Net income was $4,185,000 or $1.50 per basic and diluted share compared to net loss of $509,000 or $0.19 per basic and diluted share a year ago. Net cash provided by operating activities was $4,836,000 compared to $1,913,000 a year ago. The increase in revenue was primarily due to Isramco's overriding royalty interest in the Tamar Field offshore Israel, which generated net revenues of $5,102,000, and growth in its well service operations, which increased revenues to $6,414,000 compared to $2,704,000 for the same period in 2013.

Revenues also increased as a result of higher sale prices for natural gas, crude oil, and natural gas liquids in the U.S. Revenues from domestic sales increased to $9,588,000 from $8,472,000 for the same period a year earlier. This increase in net income was primarily due to royalty revenues from the Tamar Field, an increase in revenues from its well service activities, and increased revenues from U.S. based production. These increases in Revenues were partially offset by related increases in operating costs.