Let’s look more little more to our operations. From our last earnings call, you may remember that in late February, we began to see a decline in production output, and made a financial decision to take the plan out of service to implement some unscheduled maintenance work. This work was successful and we continue to make up a loss production, we think we’ll make it up before the year is over.
But with that work behind us, we’re seeing a much improved runtimes for our facilities from the first quarter into the second quarter. During the second quarter the gasifier was on-stream 99% of the time, ammonia synthesis loop which own 98% and the urea ammonium nitrate plant was on-stream 97% of the time.
In 2012, second quarter we produced 108,900 tons of ammonia of this amount, we converted 74,000 tons into 180,000 tons of UAN leaving a balance of 34,900 net tons of ammonia available for sale for the second quarter.
This compared to the second quarter of 2011, when we produced 102,300 tons of ammonia of which 74,100 tons were converted into a 179,400 tons UAN, that left us a balance for last year in the second quarter of 28,200 net tons available for ammonia sales.During this year, second quarter, we were a net receiver of hydrogen under our feedstock and shared services agreement with CVR entities adjacent refinery.As such we did not report hydrogen revenue sales in this quarter and this is compared to 2011 second quarter, when we elected to sell $6.1 million of hydrogen to the refinery under our keep-whole pricing arrangement. The amount of hydrogen sold during that period remember we’re again referring the second quarter of last year was equivalent to producing 9,400 tons of ammonia.Read the rest of this transcript for free on seekingalpha.com
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV