Parallel Energy Trust announced unaudited earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter the company reported natural gas was 13,764 mcf/day against 15,140 mcf/day a year ago. Condensate was 1,637 bbls/day against 1,686 bbls/day a year ago. Natural gas liquids was 2,778 bbls/day against 2,973 bbls/day a year ago. Total (@6:1) was 6,709 boe/day against 7,183 boe/day a year ago. Second quarter production levels were negatively impacted by an unexpected outage at a third-party processing facility serving the Carson operating area. Average sales price was $21.97 per boe against $46.33 per boe a year ago.

For the quarter the company reported revenue, net of royalties was $13,366,000 against $26,820,000 a year ago. Funds from operations were $2,356,000 against $10,659,000 a year ago. Net loss was $102,163,000 against income of $849,000 a year ago. Capital expenditures excluding acquisitions was $1,003,000 against $5,539,000 a year ago.

Based on field data, the company recorded average daily production of approximately 6,900 boe/day in July of 2015.

The company's year-to-date average daily production is approximately 6,700 boe/day, slightly below the Trust's full year production guidance.

Based on expected production levels in the second half of 2015, the company is reconfirming its full year production guidance of 6,800 boe/day.

Recorded a net impairment of $94.1 million on the company's oil and gas assets as a result of impairment tests performed in the second quarter of 2015.