This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Saratoga Resources, Inc. Reports Fourth Quarter And 2011 Financial Results, Increased Reserves And New Production Milestone

Saratoga Resources, Inc. (NYSE Amex:SARA);(the “Company” or “Saratoga”) today announced financial and operating results for the quarter and year-ended December 31, 2011. Saratoga also announced that its current production has eclipsed prior highs, reaching in excess of 4,200 barrels of oil equivalent per day (“BOEPD”) net to the Company.

Key Financial Results

Year-Ended 2011

  • Net income of $20.8 million, or $0.93 per fully diluted share, for 2011 compared to a net loss of $(19.4) million, or $(1.14) per fully diluted share, for 2010;
  • Discretionary cash flow of $30.5 million, or $1.36 per fully diluted share, for 2011 compared to discretionary cash flow of $6.2 million, or $0.36 per fully diluted share, for 2010;
  • EBITDAX of $47.9 million for 2011 compared to $28.2 million for 2010;
  • Oil and gas revenues of $76.2 million for 2011 compared to $52.7 million for 2010;
  • Reserve replacement ratio of 200%; and
  • Working capital adjusted debt to trailing twelve month EBITDAX of 2.4 times.

Fourth Quarter

  • Net income of $11.5 million, or $0.43 per fully diluted share, for the fourth quarter of 2011 compared to a net loss of $(1.7) million, or $(0.10) per fully diluted share, in the fourth quarter of 2010;
  • Discretionary cash flow of $7.9 million, or $0.29 per fully diluted share, for the fourth quarter of 2011 compared to discretionary cash flow of $4.5 million, or $0.26 per fully diluted share, in the fourth quarter of 2010;
  • EBITDAX of $13.4 million for the fourth quarter of 2011 compared to $8.6 million in the fourth quarter of 2010; and
  • Oil and gas revenues of $22.7 million for fourth quarter 2011 compared to $14.4 million in the fourth quarter 2010.

Discretionary cash flow and EBITDAX are non-GAAP financial measures and are defined and reconciled to the most directly comparable GAAP measure under “Non-GAAP Financial Measures” below.

1 of 9

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs