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Pyramid Oil Company (NYSEAMEX:PDO) reported decline in its revenue in the second quarter of 2012 compared to 2011 second quarter.
Pyramid Oil Company (NYSEAMEX:PDO) reported decline in its revenue in the second quarter of 2012 compared to 2011 second quarter.
As quoted in the press release:
Second quarter revenue was $1.3 million versus $1.5 million in the same quarter a year ago. The decline was principally attributable to lower crude production volumes. The Company realized second quarter crude prices per average barrel of oil equivalent (BOE) of $108.06 versus $108.79 per average BOE in the same quarter last year.
Pyramid Oil’s President and CEO, John Alexander said:
We have delivered another quarter of solid profitability and improved financial strength.
Click here to read the Pyramid Oil Company (NYSEAMEX:PDO) press release.
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