Terra Energy Corp. reported earnings and operating results for the first quarter ended March 31, 2014. For the quarter, the company reported production averaged 3,539 boe/d and consisted of 83% natural gas with 17% oil and liquids.

For the quarter, the company generated revenues of CAD 13.2 million compared to revenues of CAD 11.5 million during the same period last year. Cash flow from operations increased to CAD 1.9 million as compared CAD 1.1 million for the first quarter of 2013 despite of a hedging loss for the first quarter of 2014 of CAD 1.6 million.

The company's capital expenditure plan and budget for 2014 contemplates approximately CAD 14,331,000 of total capital spending to occur during all of 2014 with approximately CAD 4,514,000 of capital being allocated towards pipeline tie-ins.