Comments
yourfanat wrote: I am using another tool for Oracle developers - dbForge Studio for Oracle. This IDE has lots of usefull features, among them: oracle designer, code competion and formatter, query builder, debugger, profiler, erxport/import, reports and many others. The latest version supports Oracle 12C. More information here.

2008 West
DIAMOND SPONSOR:
Data Direct
SOA, WOA and Cloud Computing: The New Frontier for Data Services
PLATINUM SPONSORS:
Red Hat
The Opening of Virtualization
GOLD SPONSORS:
Appsense
User Environment Management – The Third Layer of the Desktop
Cordys
Cloud Computing for Business Agility
EMC
CMIS: A Multi-Vendor Proposal for a Service-Based Content Management Interoperability Standard
Freedom OSS
Practical SOA” Max Yankelevich
Intel
Architecting an Enterprise Service Router (ESR) – A Cost-Effective Way to Scale SOA Across the Enterprise
Sensedia
Return on Assests: Bringing Visibility to your SOA Strategy
Symantec
Managing Hybrid Endpoint Environments
VMWare
Game-Changing Technology for Enterprise Clouds and Applications
Click For 2008 West
Event Webcasts

2008 West
PLATINUM SPONSORS:
Appcelerator
Get ‘Rich’ Quick: Rapid Prototyping for RIA with ZERO Server Code
Keynote Systems
Designing for and Managing Performance in the New Frontier of Rich Internet Applications
GOLD SPONSORS:
ICEsoft
How Can AJAX Improve Homeland Security?
Isomorphic
Beyond Widgets: What a RIA Platform Should Offer
Oracle
REAs: Rich Enterprise Applications
Click For 2008 Event Webcasts
SYS-CON.TV
Today's Top SOA Links


Earthstone Energy Reports 3rd Quarter Results

DENVER, CO -- (Marketwire) -- 02/08/13 -- EARTHSTONE ENERGY, INC. (NYSE MKT: ESTE) reported net income of $370,000, $0.22 per diluted share, on revenue of $2.8 million for the third quarter of fiscal 2013 compared to net income of $1,152,000, $0.68 per diluted share, on revenue of $3.9 million for the third quarter of fiscal 2012. For the nine months ending December 2012, the Company reported net income of $1,126,000, $0.65 per diluted share, on revenue of $8.0 million compared to net income of $2,545,000, $1.49 per diluted share, on revenue of $8.9 million for the same period ended December 2011. Total revenue and net income decreased $1,032,000 (27%) and $782,000 (68%), respectively, from the comparable three month prior year period. These results were due to both decreases in oil and gas prices and oil and gas sales volumes in 2013 as compared to 2012. In addition, total revenue and net income declined as the result of the sale of a group of Colorado properties in the comparable prior year period that did not contribute to this quarter coupled with an uncharacteristic, one-time, positive revenue adjustment that occurred in the 3rd quarter of fiscal 2012. Other factors which contributed to our quarterly results are disclosed in the Company's most recent Form 10-Q.

"The results for this quarter were predictable given the dynamics of our operational transition to a very active drilling program in our North Dakota Bakken project," commented Ray Singleton, President of Earthstone. "Expected production increases from horizontal wells in North Dakota were masked by the absence of revenue and income from our Colorado wells. Nevertheless, the sale of the Colorado properties last year was instrumental in raising the cash to fund these ongoing Bakken efforts. Furthermore, production and revenues from our Bakken wells have been delayed following the shift to multiple well 'pad drilling' in our North Dakota Bakken project. This strategy shift has significantly reduced costs, but has lengthened the time frame from the commencement of drilling to establishing production. Finally, declining oil prices relative to the fiscal 2012 quarter had a noticeable effect on revenue."

Singleton continued, "Moving forward, we believe the anticipated production from our recent drilling program should begin to be realized in the current quarter and we anticipate further recognition in the quarter ending June 30, 2013. In addition we expect a new surge in drilling activity as our partners implement their calendar 2013 budgets. In an effort to achieve continued long-term growth, the Company continues to pursue its strategy of drilling non-operated, horizontal Bakken wells where we have built the foundation for production growth. We are excited, as the investments we made in growth projects in past years are expected to benefit the Company in the future."

ABOUT EARTHSTONE ENERGY:
Earthstone Energy, Inc. is a growth-oriented independent oil and gas exploration and production company with primary operations in the Williston Basin and southern Texas. Earthstone is currently traded on NYSE MKT under the symbol ESTE. Information on Earthstone can be found at its web site: www.earthstoneenergy.com.

THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. Some statements contained in this release are forward-looking, and therefore involve uncertainties or risks that could cause actual results to differ materially. Forward-looking statements can be identified by words such as "could," "should," "may," "will," "anticipate," "expect," "estimate," "intend" or "continue," or comparable words or phrases. In addition, all statements other than statements of historical facts that address activities that Earthstone intends, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements also include comments regarding assumptions regarding production rates and growth, operating costs, reduction of operation costs, commodity prices, industry outlook, future drilling activities, acquisitions and industry opportunities. Factors that could cause actual results to differ materially include availability of rigs and services, price volatility of oil and gas, estimated production rates and adjustments to ownership percentages in addition to economic and political events affecting supply and demand for oil and gas, loss of customers for oil and gas production and government regulations. These and other factors are discussed in more detail in Earthstone Energy's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for March 31, 2012 and Quarterly Reports on Form 10-Q for the three and six months ended June 30, 2012 and September 30, 2012, respectively. The Company disclaims any obligation to update forward-looking statements.



FINANCIAL HIGHLIGHTS

                                Nine Months Ended       Three Months Ended
                                  December 31,             December 31,
                            ------------------------ -----------------------
                                2012        2011         2012        2011
                            ----------- ------------ ----------- -----------

Revenue                     $ 7,990,000 $  8,936,000 $ 2,834,000 $ 3,866,000
                            ----------- ------------ ----------- -----------
Net income                  $ 1,126,000 $  2,545,000 $   370,000 $ 1,152,000
                            =========== ============ =========== ===========

Basic net income per share  $      0.65 $       1.49 $      0.22 $      0.68
Diluted net income per
 share                      $      0.65 $       1.49 $      0.22 $      0.68

Weighted avg. number of
 shares outstanding, basic    1,720,712    1,710,035   1,720,712   1,706,588
Weighted avg. number of
 shares outstanding,
 diluted                      1,710,035    1,710.035   1,706,588   1,706,588

CONTACT:
Ray Singleton
303-296-3076, ext. 102


About Marketwired .
Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Web 2.0 Latest News
Just last year, a CA Technologies and Vanson Bourne survey revealed that DevOps was not a sure-fire hit— 16 percent of senior IT professionals did not know what DevOps was, and an additional 18 percent had no plans to adopt it. Fast forward one year and the results tell an entirely new...
Last week I told you about my family’s experience with an under the skin glucose sensor that tracks blood sugar levels. While this Internet of Things trend often takes the form of a thermostat, light bulb or coffee machine, the medical field has been using sensors for a while and it is...
In my hunt for the mysterious DevOps practice, I’ve been let down. DevOps are hard to find. When you find them, they do not exactly do what you think they should do. Some DevOps teams only execute on automation for dev; while others are operations folks with a new name; and still other...
Don’t emphasize network security at the cost of endpoint security; the two can be integrated and work hand in hand. The result is a safer, more secure business ready for the challenges of the future.
Most forward-looking CEOs have already made their move to prepare for the future that they foresee – where business technology is a key deciding factor for them to attain ongoing commercial prosperity. This new digital-propelled environment will profoundly change business processes, al...
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
Click to Add our RSS Feeds to the Service of Your Choice:
Google Reader or Homepage Add to My Yahoo! Subscribe with Bloglines Subscribe in NewsGator Online
myFeedster Add to My AOL Subscribe in Rojo Add 'Hugg' to Newsburst from CNET News.com Kinja Digest View Additional SYS-CON Feeds
Publish Your Article! Please send it to editorial(at)sys-con.com!

Advertise on this site! Contact advertising(at)sys-con.com! 201 802-3021




SYS-CON Featured Whitepapers
ADS BY GOOGLE