Cabot Energy Plc announced preliminary consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenues of $4,788,000 compared with $3,638,000 for the same period a year ago. Loss from operations was $3,741,000 compared with $2,177,000 for the same period a year ago. Loss before tax was $3,991,000 compared with $2,518,000 for the same period a year ago. Loss attributable to equity shareholders of the company was $3,164,000 or 1.0 cents per basic share compared with profit attributable to equity shareholders of the company of $3,125,000 or 2.0 cents per basic share for the same period a year ago. Net cash outflow from operating activities was $1,864,000 compared with $372,000 for the same period a year ago. Purchase of property, plant and equipments was $3,462,000 compared with $1,394,000 for the same period a year ago. Expenditure on exploration and evaluation assets was $659,000 compared with $402,000 for the same period a year ago.

The exit rate for 2018 is expected to be in the range of 1,600 to 2,000 bopd and an average rate for the year of 1,000 to 1,200 bopd.