Divulgação de Resultados do 2T14

Rio de Janeiro, Brazil, August 13th, 2014. QGEP Participações S.A. [BM&FBOVESPA: QGEP3] releases today its second quarter of 2014 results. For further information, click here.

Highlights:

  • Average daily gas production from the Manati Field was 5.9MMm³ in 2Q14 and 6.0MMm³ in 6M14;
  • Full year 2014 Manati average production expected to be 5.8MMm³ per day;
  • Carcará appraisal well in Block BM-S-8 to start drilling in the 1Q15;
  • Net revenue increased 25.9% in 2Q14 to R$126.2 million from 2Q13, on higher Manati production;
  • EBITDAX was R$67.4 million and R$149.9 million in 2Q14 and 6M14, respectively, up from R$41.7 million in 2Q13 and R$119.6 million in 6M13;
  • Net income increased to R$53.6 million in 2Q14 from R$30.1 million in 2Q13;
  • Operating cash flow in 2Q14 was R$90.1 million; R$130.7 million for 6M14;
  • Cash balance was R$1.0 billion at end of 2Q14.

Conference Call - English | August 14th, 2014

(simultaneous translation)
11:30 a.m. - New York | 12:30 p.m. - Brasília
Dial-in: +1 (786) 924-6977
Code: Queiroz Galvão
Webcast: click here

Participants are requested to connect fifteen minutes prior to the time set for the conference call.


Updated in  2014-10-15T12:59:06
All the dates of this page are presented in official timezone of Brasilia - Brazil.

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