Chinook Energy Inc. announced earnings and production results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported average daily production of 4,655 boe/d compared with 3,928 boe/d for the same period a year ago. Crude oil was 451 boe/d compared with 922 boe/d for the same period a year ago. Natural gas liquids was 613 boe/d compared with 364 boe/d for the same period a year ago. Natural gas was 21,548 mcf/d compared with 15,851 mcf/d for the same period a year ago.

For the full year, the company reported average daily production of 5,510 boe/d compared with 5,637 boe/d for the same period a year ago. Crude oil was 768 boe/d compared with 1,187 boe/d for the same period a year ago. Natural gas liquids was 637 boe/d compared with 510 boe/d for the same period a year ago. Natural gas was 24,631 mcf/d compared with 23,642 mcf/d for the same period a year ago.

For the quarter, the company reported petroleum & natural gas revenues, net of royalties of $10,631,000 compared with $9,000,000 for the same period a year ago. Funds inflow from operations was $1,713,000 or $0.01 per basic and diluted share compared with $1,516,000 or $0.01 per basic and diluted share for the same period a year ago. Net income was $6,427,000 or $0.03 per basic and diluted share compared with net loss of $5,303,000 or $0.02 per basic and diluted share for the same period a year ago. Capital expenditures was $4,177,000 compared with $9,998,000 for the same period a year ago.

For the full year, the company reported petroleum & natural gas revenues, net of royalties of $36,943,000 compared with $49,701,000 for the same period a year ago. Funds outflow from operations was $1,004,000 or $0.00 per basic and diluted share compared with funds flow from operations of $9,033,000 or $0.04 per basic and diluted share for the same period a year ago. Net loss was $54,773,000 or $0.25 per basic and diluted share compared with $83,606,000 or $0.39 per basic and diluted share for the same period a year ago. Capital expenditures was $9,211,000 compared with $44,325,000 for the same period a year ago.

The company revised production guidance and reaffirmed capital expenditure guidance for the full year of 2017. For the full year of 2017, the company now expects its average production to be in the range of 4,200 boe/d to 4,300 boe/d compared with 4,070 boe/d to 4,170 boe/d for the same period.

For the full year of 2017, the reaffirms its capital expenditures to be at $40 million.