PostRock Energy Corporation Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Impairments Guidance for the Second Quarter, Third Quarter and Fourth Quarter of 2015
PostRock Energy Corporation announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, the company reported total revenue of $21.803 million against $12.496 million a year ago. Operating income was $0.703 million against operating loss of $7.816 million a year ago. Loss before income taxes was $7.622 million against $6.376 million a year ago. Net loss was $7.622 million against $6.376 million a year ago. Diluted loss per share was $2.46 against $0.83 a year ago. Net cash flows from operating activities were $1.519 million against $5.568 million a year ago. Expenditures for equipment, development and leasehold were $4.430 million against $6.551 million a year ago. Capital expenditures totaled $1.9 million. EBITDA was $4.109 million against $5.264 million a year ago. Adjusted EBITDA was $6.121 million against $3.004 million a year ago.
For the quarter, the company reported production of total natural gas of 3,258 MMcf against 3,111 MMcf a year ago. Total crude oil production was 53,586 Bbls against 71,906 Bbls a year ago.
The company anticipates recording impairments of approximately $35 million in the second quarter of 2015.
The company anticipates recording impairments of approximately $25 million in the third quarter of 2015.
The company anticipates recording impairments of approximately $15 million in the fourth quarter of 2015.