This Day On The Street
Continue to site
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

TransAtlantic Petroleum Announces Third Quarter 2013 Financial Results And Provides An Operations Update

HAMILTON, Bermuda, Nov. 7, 2013 (GLOBE NEWSWIRE) -- TransAtlantic Petroleum Ltd. (TSX:TNP) (NYSE-MKT:TAT) (the "Company" or "TransAtlantic") today announced financial results for the quarter ended September 30, 2013 and provided an operations update.

  • TransAtlantic's current production is more than 4,700 Boe/d
  • The Company expects to exit the fourth quarter of 2013 with production of at least 5,000 Boe/d
  • Adjusted EBITDAX from continuing operations for the third quarter of 2013 was $20.4 million (Adjusted EBITDAX is a non-GAAP financial measure that is defined and reconciled to net income at the end of this press release)
Third Quarter 2013 Results      
  For the Three Months Ended
  September 30, 2013 September 30, 2012 June 30, 2013
Net Sales:      
 Oil (Mbbls)  230 229 230
 Natural gas (MMcf) 868 928 816
Total net sales (Mboe)  375 384 366
Total net sales (Boe/d)  4,076 4,174 4,022
Realized Commodity Pricing:      
Oil ($/bbl unhedged) $103.04 $105.81 $94.13
Oil ($/bbl hedged) $99.05 $102.08 $92.03
Natural gas ($/Mcf unhedged)  $9.16 $8.14 $9.57
Natural gas ($/Mcf hedged)  $9.16 $8.14 $9.57

Total revenues were $33.3 million for the three months ended September 30, 2013, as compared to $34.8 million for the same period in 2012 and $31.8 million for the three months ended June 30, 2013. For the three months ended September 30, 2013, TransAtlantic had a net loss from continuing operations of $4.8 million, or $0.01 per share (basic and diluted), as compared to net income from continuing operations of $0.5 million, or $0.00 per share (basic and diluted), for the three months ended September 30, 2012 and net income from continuing operations of $2.9 million, or $0.01 per share (basic and diluted) for the three months ended June 30, 2013. The net loss for the third quarter of 2013 included $2.9 million of foreign exchange losses, $2.2 million of unrealized mark-to-market derivative losses and $2.2 million of exploration, abandonment and impairment charges (of which approximately $1.8 million represented cash expenses during the quarter).

1 of 7

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.33 -1.60%
FB $117.04 0.27%
GOOG $692.78 0.25%
YHOO $36.41 -0.49%
TSLA $246.75 -0.39%


Chart of I:DJI
DOW 17,740.91 -89.85 -0.50%
S&P 500 2,062.19 -13.62 -0.66%
NASDAQ 4,774.2780 -31.0130 -0.65%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs