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Last $0.21 USD
Change Today +0.0027 / 1.29%
Volume 60.8K
As of 8:04 PM 06/1/15 All times are local (Market data is delayed by at least 15 minutes).

saratoga resources inc/texas (SARA) Snapshot

Open
$0.23
Previous Close
$0.21
Day High
$0.23
Day Low
$0.20
52 Week High
06/3/14 - $2.72
52 Week Low
01/29/15 - $0.14
Market Cap
6.6M
Average Volume 10 Days
31.3K
EPS TTM
$-2.23
Shares Outstanding
31.0M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for SARATOGA RESOURCES INC/TEXAS (SARA)

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saratoga resources inc/texas (SARA) Details

Saratoga Resources, Inc., an independent oil and natural gas company, acquires, exploits, develops, and produces crude oil and natural gas properties in the United States. Its properties consist of approximately 51,500 acres under leases, including 31,700 acres gross/net located in the transitional coastline in protected in-bay environments on parish and state leases in south Louisiana; and 19,800 acres gross/net under federal leases in the shallow Gulf of Mexico shelf. As of December 31, 2014, the company had proved reserves of 10.2 million barrels of crude oil equivalent (MMBoe), including 5.8 million barrels of oil (MMBbls), and 26.6 billion cubic feet (Bcf) of natural gas; and 25.9 MMBoe comprising of 10.4 MMBbls, and 93.2 Bcf of natural gas. Saratoga Resources, Inc. was founded in 1990 and is headquartered in Houston, Texas.

32 Employees
Last Reported Date: 04/15/15
Founded in 1990

saratoga resources inc/texas (SARA) Top Compensated Officers

Co-Founder, Chairman and Chief Executive Offi...
Total Annual Compensation: $311.1K
President and Director
Total Annual Compensation: $311.1K
Vice President of Finance & Accounting
Total Annual Compensation: $160.0K
Compensation as of Fiscal Year 2013.

saratoga resources inc/texas (SARA) Key Developments

Saratoga Resources Announces Appointment of Richard Nevins as Director

Saratoga Resources Inc. announced that it has appointed Richard Nevins to its board of directors and as a member of the board's existing independent committee. Mr. Nevins has served as an independent financial advisor since 2010 and previously from 2007 to 2008, in which capacity he served as Interim CEO of Insight Health Services Holdings Corp. from 2007 to 2008, as Interim CEO of US Energy Systems Inc. during 2007, and as Examiner in the 2007 bankruptcy of Northwest Airlines. From 1998 to 2007 and again from 2008 to 2010, Mr. Nevins served as Managing Director and, during the 1998 to 2007 period, Co-Head of the Recapitalization and Restructuring Group of Jefferies & Company Inc.

Saratoga Resources Inc. announced delayed 10-Q filing

On 05/18/2015, Saratoga Resources Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Saratoga Resources Inc. Reports Audited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Announces Production Results for the Year Ended December 31, 2014

Saratoga Resources Inc. reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company's negative discretionary cash flow was $3,783,144 compared to $690,597 a year ago. EBITDAX was $1,516,424 compared to $4,327,284 a year ago. For the year, the company's total revenues were $54,354,080 compared to $67,414,915 a year ago. The revenues for 2014 reflect a decrease in production volumes (down 16.6% year over year) and lower average realized oil and natural gas prices. The decrease in production reflects a 15.2% decline in oil volumes and a 20.7% decline in natural gas volumes. Operating loss was $119,467,111 compared to operating income of $3,688,281 a year ago. Net loss before income taxes was $143,721,170 compared to $17,764,003 a year ago. Net loss was $143,911,025 compared to $26,394,459 a year ago. Diluted loss per share was $4.65 compared to $0.85 a year ago. Net cash used in operating activities was $5,051,031 compared to net cash provided by operating activities of $7,547,725 a year ago. Additions to oil and gas property was $13,638,670 compared to $29,776,182 a year ago. Additions to other property and equipment was $139,085 compared to $97,556 a year ago. Negative discretionary cash flow was $10,397,699 compared to discretionary cash flow of $9,123,008 a year ago. EBITDAX was $10,874,242 compared to $28,746,955 a year ago. The company announced production of 670,050 barrels of oil equivalent, or 1,836 barrels of oil equivalent per day; Oil production was down 91,900 barrels of oil (“MBO”), or 15.2%, as compared to 2013. The decrease was primarily due to lost run time, anticipated decline rates in certain high production wells, mechanical downhole issues relating to specific wells, gas lift gas shortages and flow line capacity constraints, all of which were partially offset by the addition of production from recompletions, workovers and new drills during 2014 and the second half of 2013. Production optimization initiatives and infrastructure improvements undertaken throughout 2014 addressed the principal causes of decreased run times, gas lift gas shortages, mechanical issues and flow line capacity constraints, raising run time and production rates to approximately 80% and 1,904 barrels of oil equivalent per day (“BOEPD”) during the fourth quarter of 2014 from 54% and 1,330 BOEPD during the first quarter of 2014. Natural gas production was down 248.7 million cubic feet of gas (“MMCFG”), or 20.7%, as compared to 2013. The decrease in gas production principally related to natural decline and depletion of several wells and the recompletion of a previous gas producer uphole to an oil zone, partially offset by gas-targeted recompletions. The decrease in realized hydrocarbon prices reflects the steep drop in global oil prices during the second half of 2014. The company continued to realize a premium pricing on both crude oil and natural gas production.

 

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SARA Competitors

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Industry Analysis

SARA

Industry Average

Valuation SARA Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.1x
Price/Book NM Not Meaningful
Price/Cash Flow NM Not Meaningful
TEV/Sales NM Not Meaningful
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