Marquee Energy Ltd. reported operating and financial results for the first quarter ended March 31, 2016. For the quarter, the company reported oil and natural gas sales of $7,749,000 compared to $14,110,000 a year ago. Funds flow from operations was $1,392,000 or $0.01 basic and diluted per share compared to $7,004,000 or $0.06 basic and diluted per share a year ago. Net loss was $7,918,000 or $0.06 basic and diluted per share compared to $4,131,000 or $0.03 basic and diluted per share a year ago. Capital expenditures were $100,000 compared to $6,729,000 a year ago. Net debt as at March 31, 2016 was $49,058,000 compared to $54,064,000 a year ago.

For the quarter, the company achieved record average production volumes of 4,430 boe/d (46% oil and NGLs) representing a 10% decrease over the fourth quarter of 2015 and a 20% decrease from the first quarter of 2015.