Cequence Energy Ltd. Reports Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2017
For the year, the company reported total revenue of $65,836,000 against $59,074,000 a year ago. Comprehensive loss was $99,362,000 or $0.40 per basic and diluted share against $28,057,000 or $0.13 per basic and diluted share a year ago. Funds flow from operation was $19,329,000 or 0.08 per basic and diluted share against $11,250,000 or $0.05 per basic and diluted share a year ago. Capital expenditures, before acquisitions (dispositions) was $25,857,000 against $22,590,000 a year ago. Net debt as at December 31, 2017 was $68,501,000 compared to $64,031,000 as at December 31, 2016.
For the quarter, the company announced production of Natural gas (Mcf/d) of 33,331 compared to 45,005 crude oil (bbls/d) of 283 compared to 140, natural gas liquids (bbls/d) of 257 compared to 209, Condensate (bbls/d) of 617 compared to 760 and total (boe/d) of 6,713 compared to 8,609 for the last year.
For the year, the company announced production of Natural gas (Mcf/d) of 40,466 compared to 45,442 crude oil (bbls/d) of 344 compared to 177, natural gas liquids (bbls/d) of 254 compared to 237, Condensate (bbls/d) of 797 compared to 841 and total (boe/d) of 8,139 compared to 8,826 for the last year.