EnerJex Resources, Inc. (ENRJ), a domestic onshore oil company, announced that it has filed its SEC Form 10-Q for the quarter ended June 30, 2012.
Production volumes during the three months ended June 30, 2012 were 23,464 barrels of oil compared to 18,246 barrels of oil during the three months ended June 30, 2011. Excluding production from properties that were sold during December 2011, production was 12,811 barrels of oil during the three months ended June 30, 2011.
Revenues were $2,049,165 for the second quarter of 2012 compared to $1,685,174 for the second quarter of 2011. Excluding revenue from properties that were sold during December 2011, revenue was $1,204,745 for the second quarter of 2011. The Company realized an average oil price of $87.33 during the second quarter of 2012 compared to $92.36 during the second quarter of 2011.
Lease operating expenses were $745,504 or $31.77 per net barrel of oil produced during the three months ended June 30, 2012 compared to $826,420 or $45.29 per net barrel of oil produced during the three months ended June 30, 2011.
Operating income was $244,461 for the second quarter of 2012 compared to an operating loss of $178,635 for the second quarter of 2011.
EBITDA was $3,448,439 for the three months ended June 30, 2012 compared to $1,358,549 for the three months ended June 30, 2011. Adjusted to exclude the effect of derivative contracts, EBITDA was $571,020 during the three months ended June 30, 2012 compared to $162,090 in the same period last year.
Net income was $2,970,576 during the second quarter of 2012 compared to $921,600 during the second quarter of 2011. Adjusted to exclude the effect of derivative contracts, net income was $93,157 for the second quarter of 2012 compared to a loss of $274,859 in the same period last year.
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