Delphi Energy Corp. reported earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported oil and natural gas revenues of $32,675,000 compared to $25,671,000 a year ago. Net loss was $4,466,000 or $0.02 per basic and diluted share compared to net earnings of $8,156,000 or $0.05 per basic and diluted share a year ago. Adjusted funds flow was $11,428,000 or $0.06 per basic and diluted share compared to $7,970,000 or $0.05 per basic and diluted share a year ago. Net debt as at March 31, 2018 was $166,436,000 compared to $108,367,000 a year ago. Capital expenditures, net of dispositions were $41,165,000 compared to $30,055,000 a year ago.

The company provided production and earnings guidance for the second quarter of 2018 and first half of 2018. For the second quarter of 2018, the company expects net capital program of $5.5 million to $6.0 million, average production of 10,600 boe/d to 11,000 boe/d, adjusted funds flow of $14.5 million to $15.5 million, net debt of $156 million to $158 million.

For the first half of 2018, the company expects net capital program of $38 million to $45 million, average production of 9,800 boe/d to 10,200 boe/d, adjusted funds flow of $25.0 million to $27.0 million, net debt of $149 million to $154 million.