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Escalera Resources Co. (ESCRQ) SEC Filing 10-Q Quarterly report for the period ending Tuesday, September 30, 2014

Escalera Resources Co.

CIK: 29834 Ticker: ESCRQ

Exhibit 99.1

 

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Escalera Resources Reports Second Quarter Financial and Operating Results

For immediate release

Denver, Colorado and Houston, Texas, August 14, 2014 – Escalera Resources Co. (NASDAQ: ESCR)

today reported financial and operating results for the three and six months ended June 30, 2014. The Company had a net loss attributable to common stock of $4.0 million, or $(0.29) per share, for the second quarter of 2014, as compared to a net loss of $570,000, or $(0.05) per share, for the second quarter of 2013.

For the first six months of 2014 the Company had a net loss attributable to common stock of $9.3 million, or $(0.72) per share compared to a net loss of $6.7 million, or $(0.59) per share for the first six months of 2013.

Clean earnings, a non-GAAP measure, totaled $1.5 million, or $0.11 per share, for the second quarter of 2014, compared to $3.0 million, or $0.26 per share, for the same prior-year period.

Clean earnings for the six months ended June 30, 2014 was $4.1 million, or $0.31 per share as compared to $5.4 million, or $0.48 per share for the first six months of 2013. Clean earnings excludes the effects on net loss of non-cash charges, consisting of depreciation, depletion and amortization expense, unrealized gains and losses related to the Company’s economic hedges, impairment charges and stock-based compensation expense. Clean earnings also exclude the impact of income taxes, as the Company does not expect to pay income tax in the foreseeable future due to its net operating loss carryforwards. Please see the table at the end of this release for the reconciliation of GAAP net loss to clean earnings.

Clean earnings for the three and six months ended June 30, 2014 was impacted by the following:

Pricing

The results for the second quarter of 2014 were impacted by a 3% decrease in the average realized natural gas price, which decreased from $3.98 per Mcf in the second quarter of 2013 to $3.87 per Mcf in the comparable 2014 period.


The following information was filed by Escalera Resources Co. (ESCRQ) on Tuesday, August 19, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Assess how Escalera Resources Co.'s management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
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Escalera Resources Co.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

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SEC Filing Tools
Ticker: ESCRQ
CIK: 29834
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-14-000417
Submitted to the SEC: Fri Nov 14 2014 4:07:03 PM EST
Accepted by the SEC: Fri Nov 14 2014
Period: Tuesday, September 30, 2014
Industry: Crude Petroleum And Natural Gas

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