Fortaleza Energy Inc. Announces Earnings and Operating Results for the Fourth Quarter and Full Year Ended December 31, 2014
For the full year, the company reported financial natural gas sales of $937,000 against $946,000 a year ago. Funds used in operations were $1,251,000 or $0.02 per basic and diluted share against $404,000 or $0.01 per basic and diluted share a year ago. Net loss was $1,986,000 or $0.03 per basic and diluted share against net income of $2,779,000 or $0.05 per basic and diluted share a year ago. Total revenue was $1,973,000.
For the quarter, the company reported average natural gas production of 253 Mcf/d against 538 Mcf/d a year ago. Average natural gas liquids production of 8 bbl/d against 16 bbl/d a year ago.
For the full year, the company reported average natural gas production of 360 Mcf/d against 469 Mcf/d a year ago. Average natural gas liquids production of 10 bbl/d against 12 bbl/d a year ago.