Exall Energy Corporation Reports Earnings and Production Results for the First Quarter Ended March 31, 2014; Provides Cash Flow from Operations Guidance for the Year 2014
For the quarter, the company reported daily production of crude oil of 886 bbl against 1,218 bbl a year ago. Natural gas liquids daily production was 23 bbl against 19 bbl a year ago. Natural gas daily production was 318 mmcf against 394 mmcf a year ago. This production was down as a result of first quarter 2014 well optimization operations which resulted in fairly significant downtimes on certain higher rate oil wells.
The company would generate a cash flow from operations of approximately CAD 12.5 million for 2014.