EBITDAX


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EBITDAX

Earnings before interest, taxes, depreciation, amortization and exploration. A measure of an oil, gas, or mineral company's ability to produce income on its operations in a given year. It is calculated as the company's revenue less its expenses (such as overhead), but including its tax liability, interest paid on debt, depreciation, amortization, and what it spends in exploring for new oil, gas, or mineral deposits. It is important to note that EBITDAX does not account for one-off or otherwise unusual revenues and expenses, only recurring ones. It is used when determining whether an energy or similar company can repay a loan; often a loan used to acquire another company.
References in periodicals archive ?
The Company has referred to a "debt to trailing twelve month EBITDAX ratio" in this release to measure relative leverage of the Company.
Adjusted EBITDAX and Distributable Cash Flow are used by our management to provide additional information and statistics relative to the performance of our business, including (prior to the creation of any reserves) the cash available to pay distributions to our unitholders.
Adjusted EBITDAX is a supplemental non-GAAP financial measure that is used by management and external users of our consolidated financial statements, such as industry analysts, investors, lenders and rating agencies.
Adjusted EBITDAX represents EBITDAX as further adjusted to reflect the items set forth in the table below, all of which will be required in determining our compliance with financial covenants under the credit agreements representing our senior credit facility and our second lien credit facility.
See accompanying tables at the end of this press release that reconcile Adjusted EBITDAX and DCF, each of which are non-US GAAP financial measures, to their most directly comparable US GAAP financial measure.
Management believes EBITDAX is useful because it allows us to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure.
Management believes Adjusted EBITDAX and adjusted net income are useful because they allow us to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure.
Commenting on third quarter 2015 EBITDAX and Antero's business model, Paul Rady, Chairman of the Board and CEO, said, "Despite the challenging commodity price environment during the quarter, our results truly show the sustainability of Antero's business model.
Adjusted EBITDAX for the third quarter of 2015 was $446 million, up from $419 million in the third quarter of 2014, due primarily to higher production volumes and lower operating costs.
This increased non-cash charge does not change the previously reported oil and gas revenues or EBITDAX or other results.
4 million in the second quarter of 2011, a 63% increase over Adjusted EBITDAX for the prior year quarter.