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ENSERCH EXPLORATION PARTNERS, LTD. ANNOUNCES SECOND-QUARTER RESULTS

 DALLAS, Aug. 4 /PRNewswire/ -- Enserch Exploration Partners, Ltd. (EP) had second quarter 1993 net income of $2.7 million, compared with a net loss of $3.3 million for the like period a year earlier. The net income per unit was 3 cents versus a loss of 3 cents for the year-ago period.
 "Improved natural-gas prices continue to favorably impact our operating results," Gary J. Junco, president and chief operating officer said. "Also, as a result of our development program, we have increased production from our gas fields in East Texas, which contributed to our improved second-quarter results."
 Net cash flows from operating activities were $13 million for the second quarter, compared with $9.2 million a year earlier.
 Second-quarter 1993 operating income was $9.2 million, up from $1.5 million for the second quarter of 1992. Revenues for the second quarter of 1993 were $48 million, up 21 percent compared with $39 million for the year-ago period.
 Natural-gas sales volumes (net) for the second quarter of 1993 were 18 billion cubic feet (Bcf), compared with 16 Bcf for the same period a year ago. The average sales price was $2.07 per thousand cubic feet (Mcf), versus $1.67 per Mcf in the second quarter of 1992.
 Oil sales volumes (net) were 497 thousand barrels (MBbls) for the second quarter, down from 537 MBbls for the same period a year ago. The average sales price of $18.31 per barrel declined 7% from the year- earlier period.
 For the six months of 1993, EP's net income was $2.1 million, or 2 cents per unit, compared with a net loss of $3.9 million, or 4 cents per unit, for
the same period in 1992. Six-month operating income was $14 million versus operating income of $5.8 million for the first six months of 1992. Year-to-date revenues were $87 million, up 8% compared with the year-ago period.
 Enserch Exploration Partners, Ltd., a Texas limited partnership, conducts substantially all the domestic oil and gas operations of ENSERCH Corporation (NYSE: ENS), an integrated natural-gas company headquartered in Dallas. ENSERCH owns 99.2 percent of the 102.5 million total partnership units outstanding.
 ENSERCH EXPLORATION PARTNERS, LTD.
 SUMMARY OF OPERATIONS
 (In thousands except per unit amounts)
 Three Months Ended
 June 30
 1993 1992
 Revenues . . . . . . . . . . . .$47,709 $39,454
 Operating income . . . . . . . .$ 9,160 $ 1,538
 Net income (loss). . . . . . . .$ 2,743 $(3,267)
 Net income (loss) per unit . . .$ .03 $ (.03)
 Net cash flows from operating
 activities (A). . . . . . . . $ 13,461 $ 9,213
 Weighted average units
 outstanding. . . . . . . . . . 102,500 102,500 (A) In the second quarter of 1993, $8,996,000 was required for working capital, compared with $4,837,000 in the second quarter of 1992.
 ENSERCH EXPLORATION PARTNERS, LTD.
 SUMMARY OF OPERATIONS
 (In thousands except per unit amounts)
 Six Months Ended
 June 30
 1993 1992
 Revenues . . . . . . . . . . . . . . . $ 87,464 $ 80,787
 Operating income . . . . . . . . . . . $ 14,278 $ 5,766
 Net income (loss). . . . . . . . . . . $ 2,103 $ (3,877)
 Net income (loss) per unit . . . . . . $ .02 $ (.04)
 Net cash flows from operating
 activities (A) . . . . . . . . . . . $ 34,724 $ 39,940
 Weighted average units
 outstanding . . . . . . . . . . . . 102,500 102,500 (A) In the six months ended June 30, 1993, $3,970,000 was required for working capital, compared with $7,411,000 provided in the six-month period last year.
 -0- 8/4/93
 NOTE TO EDITORS: Correct styles are ENSERCH Corporation and Enserch Exploration Partners, Ltd.
 /CONTACT: Analysts: Benjamin A. Brown, vice president, Financial Relations, 214-670-2204, or Media: Crystal C. Bell, director, Financial Communications, 214-670-2528, both of ENSERCH Corporation/
 (ENS)


CO: Enserch Exploration Partners, Ltd. ST: Texas IN: OIL SU: ERN

LG -- NY044 -- 9328 08/04/93 11:23 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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