09:53 AM EST - Pacific Rubiales Energy Corp. : announced today the release of its audited consolidated financial results for the full year and quarter ended December 31, 2014. Revenues for the year were $5.0 billion, an increase of 7% compared to 2013, despite the decline in crude oil market prices during the second half of 2014. Net loss for the year was $1.3 billion, mainly as a result of the $1.6 billion non-cash impairment charge (before-tax) taken on oil and gas assets and exploration expenses, reflecting the significant decline in crude oil prices. Pacific Rubiales Energy Corp.
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