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MESA LIMITED PARTNERSHIP REPORTS RESULTS FOR THIRD QUARTER AND NINE MONTHS

                MESA LIMITED PARTNERSHIP REPORTS RESULTS
                   FOR THIRD QUARTER AND NINE MONTHS
    DALLAS, Nov. 1 /PRNewswire/ -- Mesa Limited Partnership (NYSE: MLP) today reported revenues from production of natural gas, natural gas liquids and oil and condensate of $43.0 million, operating income of $.1 million and a net loss of $35.8 million for the third quarter of 1991. These amounts compare with production revenues of $62.9 million, operating income of $1.7 million and a net loss of $4.2 million for the third quarter of 1990.  Results for the third quarter of 1990 included $32.4 million of net gains relating to investments.
    Revenues, operating results and net interest expense for the third quarter of 1991 reflect the sales, earlier in 1991, of approximately 17 percent of Mesa's producing properties for $433 million.
    Mesa's average daily production and prices received are summarized below.
                            Three Months Ended      Nine Months Ended
                               September 30           September 30
                              1991      1990         1991       1990
    Natural gas (Mcf/day)   240,874   336,653      283,728    377,618
    Natural gas liquids
     (Bbl/day)               10,094     8,091       10,789      9,547
    Oil and condensate
     (Bbl/day)                1,787     3,597        2,187      4,117
    Natural gas (per Mcf)   $  1.15   $  1.34      $  1.43    $  1.57
    Natural gas liquids
     (per Bbl)              $ 13.35   $ 14.41      $ 12.83    $ 12.49
    Oil and condensate
     (per Bbl)              $ 19.94   $ 23.05      $ 20.04    $ 19.97
    The decrease in natural gas production is primarily attributable to sales of properties in the first six months of 1991.  The continued decline in deliverability from Gulf Coast properties and a decrease in Hugoton field production due to field compressor maintenance also contributed to the lower volumes.  Natural gas liquids production increased primarily due to higher natural gas production from Mesa's West Panhandle properties.  Oil and condensate production decreased primarily due to property sales.
    The average natural gas price decreased due to the continuing oversupply of natural gas.  Natural gas liquids and oil and condensate prices in the third quarter of 1990 reflect Iraq's August 1990 invasion of Kuwait.
    Shown below are results for the three and nine months ended Sept. 30, 1991 and 1990.
                           Three Months Ended     Nine Months Ended
                             September 30           September 30
                            1991       1990       1991        1990
                             (in thousands, except per unit data)
    Revenues:
     Natural gas          $ 26,813   $ 43,758   $ 112,351   $ 168,069
     Natural gas
      liquids               12,563     11,154      38,002      33,312
     Oil and condensate      3,614      7,938      12,510      23,308
     Other                     113      3,095       1,370       7,814
     Total                  43,103     65,945     164,233     232,503
    Costs and Expenses:
     Lease operating        11,730     14,776      34,031      47,680
     Production and
      other taxes            2,873      4,162      10,549      16,224
     Exploration charges     1,124      2,739       3,707       6,217
     General and
      administrative         6,474      7,319      19,522      20,176
     Depreciation,
      depletion and
      amortization          20,824     35,217      77,556     114,710
     Total                  43,025     64,213     145,365     205,007
    Operating income            78      1,732      18,868      27,496
    Other Income (Expense):
     Interest income         6,135      4,091      11,664      12,990
     Interest expense      (37,091)   (45,432)   (112,679)   (140,589)
     Securities gain          (150)    32,422         313      33,860
     Gains (losses) on
      dispositions of oil
      and gas properties        -       2,471      33,749      (5,321)
     Other                  (4,818)       558      (8,588)       (790)
     Total                 (35,924)    (5,890)    (75,541)    (99,850)
    Net Loss              $(35,846)  $ (4,158)  $ (56,673)  $ (72,354)
    Net Income (Loss) Per Unit:
     Common               $   (.21)  $   (.22)  $    (.73)  $   (1.01)
     Preference               (.21)       .16         .02         .11
    Average Units Outstanding:
     Common                 79,108     79,108      79,108      79,108
     Preference             87,448     87,448      87,448      87,448
    The following is an analysis of cash provided by operating activities.
                                            Nine Months Ended
                                              September 30
                                            1991           1990
                                            (in thousands)
    Net loss                           $  (56,673)    $  (72,354)
    Depreciation, depletion and
     amortization                          77,556        114,710
    Gains on securities and
     dispositions of oil and gas
     properties                           (34,062)       (28,539)
    Change in operating receivables and
     payables                              31,930         10,734
    Other                                   6,182          2,577
    Cash provided by operating
     activities                        $   24,933     $   27,128
    Shown below are the condensed balance sheets as of:
                                      September 30,   December 31,
                                          1991            1990
    Assets:
     Current assets                    $  318,800      $ 244,041
     Property, plant and
      equipment, net                    1,356,726      1,810,318
     Other assets                         179,908        113,643
     Total                             $1,855,434     $2,168,002
    Liabilities:
     Current liabilities(A)            $   94,363     $  242,251
     Long-term debt                     1,286,155      1,360,625
     Deferred revenue and other
      liabilities                         163,608        197,145
    Partner's Equity                      311,308        367,981
      Total                            $1,855,434     $2,168,002
    (A) Current liabilities include current maturities on long-term debt of $24.5 million and $161.1 million at Sept. 30, 1991 and Dec. 31, 1990, respectively.
    -0-                        11/1/91
    /CONTACT:  Jay Rosser of Mesa Limited Partnership, 214-969-2219/
    (MLP) CO:  Mesa Limited Partnership ST:  Texas IN:  OIL SU:  ERN KD -- NY089 -- 0470 11/01/91 18:53 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 1, 1991
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