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Article: Mariner Energy Reports Third Quarter 2007 Results.
- Article from:
- PR Newswire
- Article date:
- November 9, 2007
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HOUSTON, Nov. 8 /PRNewswire-FirstCall/ -- Mariner Energy, Inc. today announced third-quarter 2007 net income of $22.5 million, compared to $36.4 million (including a non-cash hedging gain of $4.5 million) for the third quarter 2006. Net income in the third quarter 2007 includes non-recurring expenses relating to Mariner's 2006 Gulf of Mexico acquisition from Forest Oil Corporation of $2.7 million and a non-cash loss related to hedge ineffectiveness under FAS 133 of $0.4 million. Basic and fully-diluted earnings per share (EPS) for the third quarter 2007 were $0.26, compared to $0.43 ($0.03 of which represented a non-cash hedging gain) for each measure in the third ...