Denver: PDC Energy (Nasdaq:PDCE) reported a net loss of $28.2 million for the second quarter, down from net income of $19.9 million in the same period during 2013.

The loss amounted to 0.79 cents per diluted share, down from earnings of .64 cents per diluted share during the second quarter of 2013.

Production during the quarter rose 64 percent. The company, in a statement, attributed the litigation charge to commodity price risk management activities that resulted in a total charge of $53.4 million, which includes $10.4 million of negative net settlements and a $43 million net loss in the change in fair value of unsettled derivatives.