DALLAS, Aug. 26, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring energy exploration company Meridian Resource Corp. (NYSE:TMR). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The investment report on Meridian Resource Corp. (NYSE:TMR) should be of interest to energy companies: Abraxas Petroleum Corp. (Nasdaq:AXAS), British Petroleum plc (NYSE:BP), Brigham Exploration Co. (Nasdaq:BEXP) and ConocoPhillips (NYSE:COP).
It is available at: http://www.beaconequity.com/i/TMR
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Meridian Resource Corp. (TMR) is engaged in the exploration for development of oil and natural gas in Louisiana, Texas, Oklahoma, Kentucky and the Gulf of Mexico. The Company is a leader in the use of advanced technologies for data gathering to find and define high-potential wells for development.
In the report, the analyst notes:
"On August 6, TMR reported its second quarter 2009 results, posting oil and gas revenue at $22.7 million, compared with $46.5 million for the equivalent quarter of 2008. The Company cited lower oil and gas unit prices, as well as lower production as the reason for the decrease in revenue. Natural gas average unit sales declined from an average price of $11.09 per mcf in the second quarter of 2008 to an average of $4.85 in the second quarter of fiscal 2009. The Company said unreported third-quarter unit sales for oil and natural gas are higher, and will be reflected in its third-quarter results.
"Production levels for the second quarter of 2009 reached 3.4 billion cubic feet, down 0.2 billion cubic feet from the equivalent quarter of 2008. Presently, production for the third quarter of 2009 is 35 mmcfe per day."
To read the entire report visit: http://www.beaconequity.com/i/TMR
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