Twin Butte Energy Ltd. announced earnings and production results for the second quarter and six months ended June 30, 2016. For the quarter, petroleum and natural gas sales were $40,780,000 against $77,318,000 a year ago. Funds flow was $6,994,000 against $56,982,000 a year ago. Funds flow per share- basic and diluted was $0.02 against $0.16 a year ago. Net loss was $171,852,000 against $23,920,000 a year ago. Net loss per share – basic and diluted was $0.48 against $0.07 a year ago. Capital expenditures was $3,463,000 against $17,012,000 a year ago.

For the six months, petroleum and natural gas sales were $68,628,000 against $139,031,000 a year ago. Funds flow was $4,014,000 against $112,349,000 a year ago. Funds flow per share- basic and diluted was $0.01 against $0.32 a year ago. Net loss was $200,292,000 against $45,737,000 a year ago. Net loss per share – basic and diluted was $0.56 against $0.13 a year ago. Capital expenditures was $6,226,000 against $42,054,000 a year ago. Net debt was $290,873,000 against $307,672,000 a year ago.

For the quarter, average daily production of medium & light crude oil 6,534 bbl against 7,882 bbl a year ago. Average daily production of heavy crude oil was 4,612 bbl against 7,312 bbl a year ago. Average daily production of natural gas was 8,614 Mcf against 12,189 Mcf a year ago. Average daily production of natural gas liquids was 146 bbl against 125 bbl a year ago. Barrels of oil equivalent was 12,728 boe per day against 17,351 boe a year ago.

For the quarter, average daily production of medium & light crude oil 6,820 bbl against 8,180 bbl a year ago. Average daily production of heavy crude oil was 4,808 bbl against 7,893 bbl a year ago. Average daily production of natural gas was 9,345 Mcf against 12,165 Mcf a year ago. Average daily production of natural gas liquids was 150 bbl against 149 bbl a year ago. Barrels of oil equivalent was 13,336 boe per day against 18,250 boe a year ago.