Rooster Energy Ltd. Announces Earnings and Production Results for the First Quarter Ended March 31, 2016
Rooster Energy Ltd. announced earnings and production results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues of $6,549,719 compared with $14,473,520 for the same period a year ago. Operating loss was $1,519,192 compared with operating income of $669,617 for the same period a year ago. Loss before income taxes was $5,107,778 compared with $1,313,254 for the same period a year ago. Net loss was $3,329,377 or $0.01 per basic and diluted share compared with $918,254 or $0.00 per basic and diluted share for the same period a year ago. Total EBITDAX was $6,558,881 compared with $3,833,207 for the same period a year ago.
For the quarter, the company produced crude oil of 33,092 Bbls compared with 62,242 Bbls for the same period a year ago. NGLs was 25,933 Bbls compared with 13,667 Bbls for the same period a year ago. Natural gas was 738,292 M cf compared with 1,233,287 M cf for the same period a year ago.