Earnings before interest, income taxes, depletion, depreciation, amortization, and exploration expense (EBITDAX) was a negative $67,000 for the third quarter 2013 compared to a positive $6.5 million for the same period last year. EBITDAX for the nine months ended September 2013 was a negative $4.0 million compared with a positive $33.6 million for the same period in 2012. EBITDAX is a non-GAAP measure. Please also see the reconciliation to net loss included at end of the press release.The comparisons of the third quarter and year-to-date 2013 results vs. the same periods in 2012 are impacted by the sale of a 49% participating interest in the Block Z-1 license contract to Pacific Rubiales Energy Corp, which closed in December 2012.
BPZ Energy Reports Third Quarter 2013 Financial Results And Provides Update On Development Drilling
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