ZaZa Energy Corporation Reports Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014
For the nine months ended September 30, 2014, the company reported total revenues of $9.5 million, an increase of 50% as compared to $6.3 million reported for the comparable 2013 period. The company reported an operating loss of $13.7 million for the nine months ended September 30, 2014 as compared to an operating loss of $124.7 million for the nine months ended September 30, 2013. For the nine months ended September, 2014, the company deployed $5.6 million of cash capital expenditures and $21.1 million of carried costs for a total of $26.7 million. For the nine months ended September, 2013 the company deployed $43.3 million of cash capital expenditures and were not carried for any costs. Total debt as of September 30, 2014 was $90.7 million, of which $13.3 million is classified as current, as compared to total debt of $98.4 million as of December 31, 2013, of which $10.2 million was considered current.
For the quarter, production was 54.8 MBOE against 22.3 MBOE a year ago, an increase of 145%.
For the nine months ended September 30, 2014, production was 176.2 MBOE against $87.0 MBOE a year ago, an increase of 102%.