Escalera Resources Co. (ESCRQ) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2015

Exhibit 99.1

1675 Broadway, Suite 2200 Denver, Colorado, 80202 · 303-794-8445 · Fax: 303-794-8451

Escalera Resources Reports Full-year 2014

Financial and Operating Results

For immediate release

Denver, Colorado and Houston, Texas (April 14, 2015) - Escalera Resources Co. (NASDAQ: ESCR)

Financial and Operating Results

The Company incurred a net loss attributable to common stock of $11.3 million, or $0.83 per share for 2014, as compared to a net loss of $16.8 million, or $1.48 per share, for 2013.

Clean earnings, a non-GAAP financial measure, totaled $4.9 million, or $0.36 per share, for 2014, as compared to $10.2 million, or $0.90 per share, for 2013. 

Clean earnings excludes the effects on net loss of non-cash charges, including 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 excludes 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 2014 was impacted by the following:

Pricing 

The Company experienced a 4% decrease in its average realized natural gas price, which decreased to $3.76 per Mcf in 2014 from $3.91 per Mcf in 2013.  

Production 

Production totaled 8.2 Bcfe for 2014, representing an 11% decrease from 2013.  

Production decreased 8% at the Catalina Unit in 2014 due to both normal production declines and several operational interruptions in the third quarter of 2014, including a power outage and equipment interruptions due to lightning strikes.  As a result, certain wells were briefly shut-in and are now recovering from water build-up. The Company is currently in the process of changing its electric