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KrisEnergy's Q2 loss falls to US$5.8m

Revenue rises 33.5% to US$22.3m on higher oil output and prices

Published Thu, Aug 14, 2014 · 10:00 PM

OIL and gas firm KrisEnergy narrowed losses for the second quarter, recording US$5.8 million in total comprehensive loss attributable to shareholders, compared with US$8.2 million a year ago.

Revenue rose 33.5 per cent to US$22.3 million, as oil and gas production increased and oil prices rose.

Ebitdax, or earnings before interest, taxes, depreciation, amortisation and exploration expenses, more than doubled from US$4.8 million to US$11.1 million, thanks to increased production and cost efficiencies.

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