NEW YORK (Thomson Financial) - Parallel Petroleum Corp. reported late Monday
a first-quarter net loss of $2.7 million, or 7 cents a share, including a pretax
loss of $21.9 million on derivatives.
The mean estimates of analysts polled by Thomson Reuters was for a profit of
13 cents a share.
First-quarter oil and gas operating revenue increased 90% to $43.9 million.
In the same period a year earlier, the company posted a loss of $96,000 and
revenue of $23.1 million.
The stock of the Midland, Texas-based independent energy company closed the
regular session at $22.03.
Wanfeng Zhou
wz/gm
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