Central Natural Resources, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 01, 2019 at 10:48 pm
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Central Natural Resources, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced total revenue was USD 297,045 compared to USD 177,508 a year ago. Net loss was USD 53,095 compared to USD 140,325 a year ago. For the half year, total revenue was USD 525,438 compared to USD 452,794 a year ago. Net loss was USD 124,644 compared to USD 203,661 a year ago.
Central Natural Resources, Inc. is an independent energy company. The Company is focused on the ownership and management of mineral properties and working interests in oil and gas. The Company's operations concentrate on domestic, onshore properties, with producing properties located in Texas, Louisiana, and the Arkoma Basin. It holds both steam coal and metallurgical coal deposits of over 175 million tons, situated in western Arkansas, eastern Oklahoma, north-eastern Oklahoma, and south-eastern Kansas. It holds mineral interests in the Arkoma Basin (Arkansas and Oklahoma) where it leases properties for exploration and development. It maintains mineral interests in Beauregard Parish, LA, a portion of which is developed and is producing, and it owns interests in production in Lafourche Parish, LA. The Company's wholly owned subsidiary, CNR Production (CNR), conducts oil and gas working interest activities domestically. CNR owns working interests in producing wells.