Fortaleza Energy Inc. Announces Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2013
For the nine months, the company reported natural gas sales of $648,000 against $617,000 a year ago. Funds used in operations were $1,541,000 or $0.03 per basic and diluted share against funds used in operations of $2,923,000 or $0.05 per basic and diluted share a year ago. Net loss was $2,261,000 or $0.04 per basic and diluted share against net loss of $4,126,000 or $0.07 per basic and diluted share a year ago.
For the quarter, the company reported average production of natural gas of 505 Mcf/d against 391 Mcf/d a year ago. Natural gas liquids were 13 bbl/d against 9 bbl/d a year ago. Total average production was 585 Mcfe/d against 445 Mcfe/d a year ago.
For the nine months, the company reported average production of natural gas of 446 Mcf/d against 541 Mcf/d a year ago. Natural gas liquids were 11 bbl/d against 13 bbl/d a year ago. Total average production was 512 Mcfe/d against 619 Mcfe/d a year ago.