InterOil Corporation (USA) (IOC) reported quarterly earnings results on Friday, May-13-2016. The company said it had a profit of $-0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $-0.36. The company posted revenue of $.92 million in the period, compared to analysts expectations of $1.10 million. The company’s revenue was down -92.1% compared to the same quarter last year.
InterOil Corporation (USA) opened for trading at $29.36 and hit $31.33 on the upside on Tuesday, eventually ending the session at $31.11, with a gain of 6.00% or 1.76 points. The heightened volatility saw the trading volume jump to 3,60,395 shares. Company has a market cap of $1,542 M.
InterOil Corporation (InterOil) is an oil and gas exploration and production company. Papua New Guinea explores for oil and gas across over 4 million acres in the south of the country. The area is divided into four Petroleum Prospecting Licenses (PPLs) and two Petroleum Retention Licenses (PRLs). A feature of InterOil’s work in Papua New Guinea is PRL 15 that contains the Elk-Antelope field. PRL 39 contains the Triceratops discovery. The Company held approximately 40.1% interest in PRL 15. Its subsidiaries include SPI Exploration and Production Corporation InterOil Singapore Pte Ltd InterOil Corporate PNG Limited South Pacific Refining Limited SPI Distribution Limited InterOil LNG Holdings Inc. InterOil Australia Pty Ltd and Direct Employment Services Company among others. Its applications for new petroleum prospecting licenses were approved with PPL 474 replacing PPL 236 PPL 475 replacing PPL 237 and PPL 476 and PPL 477 replacing PPL 238 and included new license commitments.