Article: HS RESOURCES REPORTS SECOND QUARTER REVENUES; PRODUCTION GAINS OFFSET LOW NATURAL GAS PRICES

SAN FRANCISCO, Aug. 14 /PRNewswire/ -- HS Resources Inc. (NYSE: HSE) today announced that second quarter production increased from 1.3 million equivalent barrels (MMBoe) in 1994 to 1.4 MMBoe in 1995, a gain of over 9%. During the same period, the company's product price per Boe declined 9%, from $11.46 to $10.42, because of the combined effects of a 21% decrease in natural gas prices and an 11% increase in oil prices. Despite lower product prices, 1995 second quarter revenues of $14.9 million were essentially unchanged from the prior year's quarter.

Second quarter earnings declined from $1.6 million ($0.14 per share) in 1994 to $0.2 million ($0.02 per share) in ...






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