Cequence Energy Ltd. reported consolidated earnings and production results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenue of CAD 17,810,000 against CAD 11,343,000 for the same period last year. Comprehensive loss was CAD 94,899,000 or CAD 0.39 per basic and diluted share against loss of CAD 12,212,000 or CAD 0.06 per basic and diluted share for the same period last year. Funds flow from operations was CAD 6,781,000 or CAD 0.03 per diluted share against CAD 1,554,000 or CAD 0.01 per basic and diluted share for the same period last year. Capital expenditures, including acquisitions (dispositions) were CAD 2,536,000 against CAD 1,096,000 for the same period last year.

For the six months, the company reported total revenue of CAD 37,164,000 against CAD 27,115,000 for the same period last year. Comprehensive loss was CAD 89,648,000 or CAD 0.37 per basic and diluted share against CAD 18,100,000 or CAD 0.09 per basic and diluted share for the same period last year. Funds flow from operations was CAD 14,127,000 or CAD 0.06 per diluted share against CAD 1,240,000 or CAD 0.01 per basic and diluted share for the same period last year. Capital expenditures, including acquisitions (dispositions) were CAD 17,582,000 against CAD 8,247,000 for the same period last year. Net debt as on June 30, 2017 was CAD 67,862,000 against CAD 73,507,000 as on June 30, 2016.

For the quarter, the company reported natural gas production volume of 42,719 Mcf per day compared to 40,127 Mcf per day a year ago. Crude oil production volume was 224 bbls per day compared to 178 bbls per day a year ago. Natural gas liquids production volume was 239 bbls per day compared to 244 bbls per day a year ago. Condensate production volume was 919 bbls/d compared to 748 bbls/d a year ago. Total production volume was 8,502 boe per day compared to 7,857 boe per day a year ago.

For the six months, the company reported natural gas production volume of 43,959 Mcf per day compared to 46,190 Mcf per day a year ago. Crude oil production volume was 352 bbls per day compared to 198 bbls per day a year ago. Natural gas liquids production volume was 255 bbls per day compared to 240 bbls per day a year ago. Condensate production volume was 867 bbls/d compared to 904 bbls per day a year ago. Total production volume was 8,800 boe per day compared to 9,040 boe per day a year ago.

The company revised earnings and production guidance for the full year ending December 31, 2017. For the period, the company now expects average production in the range between 8,500 boe per day - 8,700 boe per day compared to previous guidance of 9,000 boe per day - 9,200 boe per day. Funds flow from operations are expected to be CAD 23,000 or 0.010 per share compared to previous guidance for funds flow from operations of between CAD 28,000 to CAD 29,000 or 0.12 per share. Capital expenditures will be CAD 24,000 compared to previous guidance of capital expenditures CAD 29,000. Period end, net debt will be CAD 65,000 compared to previous guidance of CAD 64,000 to CAD 65,000.