Isramco Inc. (ISRL, Financial) filed Quarterly Report for the period ended 2010-03-31.
Isramco Inc. has a market cap of $138.65 million; its shares were traded at around $51.01 with and P/S ratio of 4.37.
Operating Activities, During the first three months of 2010, compared to the first three months of 2009, net cash flow provided by operating activities decreased by $2,734 thousand to $2,818 thousand. This decrease was primarily attributable to a reduction in working capital of $1,752 thousand, net cash proceeds from commodity price hedging activities of $3,193 thousand and higher lease operating expenses all of which were partially offset by increased oil and natural gas revenues. The increase in revenues was primarily attributable to higher average oil and gas prices for the quarter ended March 31, 2010 of $77.75/bbl and $5.81/mcf, compared to $37.75/bbl and $3.92/mcf for the quarter ended March 31, 2009.
Investing Activities, Net cash flows provided by (used in) investing activities for the three months ended March 31, 2010 and 2009 were $(374) thousand and $355 thousand, respectively.
Financing Activities, Net cash flows used in financing activities were $(1,374) thousand and $(5,876) thousand for the three months ended March 31, 2010 and 2009, respectively.
Net Income, in the first quarter of 2010, our net income was $1,357 thousand, or $0.50 per share. This compares to net income of $1,790 thousand, or $0.66 per share, for the first quarter of 2009.
Our average natural gas price for the first quarter of 2010 increased by 48%, or $1.89 per Mcf, when compared to the same period of 2009. Our average crude oil price for the first quarter of 2010 increased by 106%, or $40 per Bbl, when compared to the same period of 2009. Our average natural gas liquids price for the first quarter of 2010 increased by 72%, or $17.26 per Bbl, when compared to the same period of 2009.
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Isramco Inc. has a market cap of $138.65 million; its shares were traded at around $51.01 with and P/S ratio of 4.37.
Highlight of Business Operations:
As of March 31, 2010, our total debt was $123,266 thousand, compared to total debt of $124,670 thousand at December 31, 2009. As of March 31, 2010, current debt included $17,950 thousand as current maturities of the Revolving Credit Facilities, of which $4,000 thousand was the result of management s decision to continue payments to reduce debt below the borrowing base. As of December 31, 2009, current debt included $12,000 thousand as current maturities, of which $12,000 thousand was the result of management s decision to continue payments to reduce debt below the borrowing base.Operating Activities, During the first three months of 2010, compared to the first three months of 2009, net cash flow provided by operating activities decreased by $2,734 thousand to $2,818 thousand. This decrease was primarily attributable to a reduction in working capital of $1,752 thousand, net cash proceeds from commodity price hedging activities of $3,193 thousand and higher lease operating expenses all of which were partially offset by increased oil and natural gas revenues. The increase in revenues was primarily attributable to higher average oil and gas prices for the quarter ended March 31, 2010 of $77.75/bbl and $5.81/mcf, compared to $37.75/bbl and $3.92/mcf for the quarter ended March 31, 2009.
Investing Activities, Net cash flows provided by (used in) investing activities for the three months ended March 31, 2010 and 2009 were $(374) thousand and $355 thousand, respectively.
Financing Activities, Net cash flows used in financing activities were $(1,374) thousand and $(5,876) thousand for the three months ended March 31, 2010 and 2009, respectively.
Net Income, in the first quarter of 2010, our net income was $1,357 thousand, or $0.50 per share. This compares to net income of $1,790 thousand, or $0.66 per share, for the first quarter of 2009.
Our average natural gas price for the first quarter of 2010 increased by 48%, or $1.89 per Mcf, when compared to the same period of 2009. Our average crude oil price for the first quarter of 2010 increased by 106%, or $40 per Bbl, when compared to the same period of 2009. Our average natural gas liquids price for the first quarter of 2010 increased by 72%, or $17.26 per Bbl, when compared to the same period of 2009.
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