Twin Butte Energy Ltd. announced financial and production results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported petroleum and natural gas sales of $98.497 million against $70.173 million a year ago. Funds flow was $33.058 million or $0.13 per diluted share against $33.762 million or $0.17 per diluted share a year ago. Net loss was $6.082 million or $0.02 per diluted share against $29.340 million or $0.15 per diluted share a year ago. Capital expenditures were $14.871 million against $24.910 million a year ago.

For the six months, the company reported petroleum and natural gas sales of $170.261 million against $142.670 million a year ago. Funds flow was $65.481 million or $0.26 per diluted share against $60.162 million or $0.32 per diluted share a year ago. Net loss was $35.715 million or $0.14 per diluted share against $44.323 million or $0.23 per diluted share a year ago. Capital expenditures were $34.496 million against $32.826 million a year ago. Net debt as on June 30, 2013 was $193.750 million against $124.459 million a year ago.

For the quarter, the company reported operating average daily production crude oil was 14,588 bbl per day against 11,415 bbl per day a year ago. Natural gas was 12,665 mcf per day against 15,063 mcf per day a year ago. Natural gas liquids were 150 bbl per day against 267 bbl per day a year ago. Barrels of oil equivalent were 16,849 boe per day against 14,193 boe per day a year ago.

For the six months, the company reported operating average daily production crude oil was 14,630 bbl per day against 10,801 bbl per day a year ago. Natural gas was 13,282 mcf per day against 15,601 mcf per day a year ago. Natural gas liquids were 206 bbl per day against 309 bbl per day a year ago. Barrels of oil equivalent were 17,050 boe per day against 13,710 boe per day a year ago.

The company remains on track to meet its previously reported operating and financial guidance of $112 million in cash flow and 16,100 - 16,400 boe per day of average production. The company's level of capital expenditures, which are currently forecast to be $70 million net, will be monitored and potentially increased should actual cash flow less dividends increase.