TransAtlantic Petroleum Ltd. announced unaudited consolidated earnings and production results for first quarter ended March 31, 2018. For the quarter, the company reported revenues of $16,926,000 compared to $16,436,000 a year ago. Operating income was $4,823,000, as compared to $4,525,000 a year ago. Loss from continuing operations before income taxes was $488,000 compared to $13,914,000 a year ago. Net loss was $1,775,000 against $16,049,000 a year ago. Diluted and basic net loss per common share from continuing operations was $0.04 against $0.34 a year ago. Net cash provided by operating activities from continuing operations was $7,810,000 against $1,859,000 a year ago. Adjusted EBITDAX from continuing operations was $8,289,000, as compared to $9,357,000 a year ago. Net debt as of March 31, 2018 was $8.2 million, as compared to $9.7 million as of December 31, 2017.

For the first quarter, the company has announced oil of 248 MBBL against 314 MBBL a year ago. Natural gas was 67 MMCF against 184 MMCF a year ago. Average net sales were 2,885 BOEPD against 3,833 BOEPD a year ago. Total net sales were 260 MBOE against 345 MBOE a year ago.