Greenfields Petroleum Corporation Announces Earnings and Operating Results for the Second Quarter and Earnings Results for the Six Months Ended June 30, 2016
For the six months, the company reported revenues of $609,000 against $807,000 a year ago. Net loss was $6,153,000 or $0.28 per basic and diluted share against $4,346,000 or $0.21 per basic and diluted share a year ago.
Gross production for the second quarter 2016 averaged 867 bbl/d and 16.7 mmcf/d or 3,798 boe/d. Overall production was impacted by the slower pace of scheduled workovers due to limited availability of crane barges as well as lower than expected post-workover results.