Pioneer Southwest Energy Partners Steady in Late Trade; Beats on Q4 Earnings, Revenue

By Staff,

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Pioneer Southwest Energy Partners LP ( PSE ) is flat at $25.65 in late trading after reporting adjusted Q4 earnings of $0.50 per unit, which excludes about $0.15 per share for unrealized mark-to-market derivative gains. Analysts, on average, were looking for adjusted EPS of $0.47.

Q4 oil and gas sales averaged 7,668 barrels of oil equivalent per day, which includes a loss of about 200 barrels per day due to reduced ethane recoveries.

Total revenues were $50.4 million, up from $13.3 million in the year-ago quarter and beating analyst forecasts by $2.7 million. Gas and oil sales fell 14.2% year over year to around 44.7 million but total revenues were helped by a $4.2 million gain on deriviatives where last year's totals saw a $40.6 million loss on deriviative trades.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: PSE

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