Cequence Energy Ltd. reported consolidated earnings and production results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenue of CAD 14,613,000 against CAD 17,810,000 for the same period last year. Comprehensive loss was CAD 2,745,000 or CAD 0.01 per basic and diluted share against CAD 94,899,000 or CAD 0.39 per basic and diluted share for the same period last year. Funds flow from operations was CAD 2,191,000 or CAD 0.01 per diluted share against CAD 6,781,000 or CAD 0.03 per basic and diluted share for the same period last year. Capital expenditures, including acquisitions (dispositions) were CAD 397,000 against CAD 2,536,000 for the same period last year.

For the six months, the company reported total revenue of CAD 29,057,000 against CAD 37,164,000 for the same period last year. Comprehensive loss was CAD 6,470,000 or CAD 0.03 per basic and diluted share against CAD 89,648,000 or CAD 0.37 per basic and diluted share for the same period last year. Funds flow from operations was CAD 5,427,000 or CAD 0.02 per diluted share against CAD 14,127,000 or CAD 0.06 per basic and diluted share for the same period last year. Capital expenditures, including acquisitions (dispositions) were CAD 7,855,000 against CAD 17,582,000 for the same period last year. Net debt as on June 30, 2017 was CAD 73,476,000 against CAD 67,862,000 as on June 30, 2017.

For the quarter, the company reported natural gas production volume of 28,628 Mcf per day compared to 42,719 Mcf per day a year ago. Crude oil production volume was 864 bbls per day compared to 224 bbls per day a year ago. Natural gas liquids production volume was 240 bbls per day compared to 239 bbls per day a year ago. Condensate production volume was 459 bbls/d compared to 919 bbls/d a year ago. Total production volume was 6,334 boe per day compared to 8,502 boe per day a year ago.

For the six months, the company reported natural gas production volume of 31,711 Mcf per day compared to 43,959 Mcf per day a year ago. Crude oil production volume was 556 bbls per day compared to 352 bbls per day a year ago. Natural gas liquids production volume was 257 bbls per day compared to 255 bbls per day a year ago. Condensate production volume was 553 bbls/d compared to 867 bbls per day a year ago. Total production volume was 6,651 boe per day compared to 8,800 boe per day a year ago.

The company revised earnings and production guidance for the full year ending December 31, 2018. For the period, the company expects average production will be 6,850 boe per day; funds flow from operations to be CAD 17,000 or 0.06 per share; exploration and development expenditures will be CAD 19,500; period end, net debt will be CAD 66,500.