This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:Cinch Energy loses $2.8-million in Q3 2009 2009-11-05 15:59 ET - News Release Mr. George Ongyerth reports CINCH ENERGY CORP. RELEASES THIRD QUARTER 2009 RESULTS Cinch Energy Corp. has released its activities and financial results for the third quarter of 2009. Highlights are below.
HIGHLIGHTS
Three months ended Nine months ended
Sept. 30, Sept. 30,
2009 2008 2009 2008
Oil and gas sales,
net of transportation
($000s) $4,403 $10,132 $16,326 $30,945
Sales volumes per day
Natural gas (mcf/d) 13,044 10,811 13,582 9,675
Natural gas liquids (bbl/d) 207 247 214 261
Equivalence at 6:1 (boe/d) 2,381 2,049 2,478 1,874
Sales price
Natural gas ($/mcf) 2.87 7.97 3.67 9.11
Natural gas liquids ($/bbl) 50.34 96.87 46.51 94.94
Equivalence at 6:1 ($/boe) 20.10 53.75 24.13 60.28
Funds from operations
($000s) (1) 1,854 5,635 7,383 17,085
-- per share, basic (1) 0.03 0.10 0.13 0.31
-- per share, diluted (1) 0.03 0.10 0.13 0.31
Net income (loss) ($000s) (2,801) 774 (7,367) 2,602
-- per share, basic (0.05) 0.01 (0.13) 0.05
-- per share, diluted (0.05) 0.01 (0.13) 0.05
Capital expenditures ($000s) 2,301 12,212 5,824 25,329
(1) Funds from operations and funds from operations per share are not
generally accepted accounting principles and represent cash
provided by operating activities on the statement of cash flows less
the effect of changes in non-cash working capital related to operating
activities.
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