Quattro Exploration and Production Ltd. announced earnings and operating results for the second quarter and six months ended June 30, 2016. The company reported a loss of $0.02 per share for the six months period ended June 30, 2016.

In the second quarter of 2016, despite the low overall commodity prices, the company's focus on increasing oil production positioned the company to increase quarter-over-quarter revenues to $19.55 per boe from the lows of $16.01 per boe reported in the first quarter of 2016. The company reported revenues of $2,740,199; net income from operations of $163,213 ($1.19 per boe “net back”); comprehensive net loss $1,151,987 (($0.03 per share); and net debt (excluding decommissioning, non-cash liabilities & deferred taxes) of $10,476,407.

Despite these challenges the company reported that in the first half of 2016 production averaged 1,593 boe per day, representing a year-over-year increase of 15% from the average production of 1,390 boe per day recorded during the same per period in 2015.

In the second quarter oil and natural gas production at the company was limited to 1,540 boe/d due to a decision to limit capital investments to only oil production, during a period of extremely low commodity prices.