EV Energy Partners L.P. (EVEP) reported a first-quarter net loss of $46.58 million or $1.08 per unit, compared to profit of $28.59 million or $0.69 per unit last year. The company said its first-quarter net loss included $38.3 million of unrealized losses on commodity and interest rate derivatives, $0.7 million of non-cash realized losses related to terminated interest rate swaps, $0.4 million of dry hole and exploration costs, $5.2 million of non-cash leasehold impairment charges, $0.1 million of non-cash deferred income taxes and $4.5 million of non-cash costs contained in general and administrative expenses.
Total revenues decreased to $73.70 million from $77.73 million last year.
On average, 12 analysts polled by Thomson Reuters expected the company to report profit of $0.17 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $85.18 million for the quarter.
For comments and feedback: editorial@rttnews.com