Twin Butte Energy Ltd. reported earnings and production results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net loss of $41,943,000 or $0.12 per basic and diluted share against net loss of $34,805,000 or $0.10 basic and diluted per share a year ago. Funds flow was $32,851,000 or $0.09 basic and diluted per share against $53,699,000 or $0.15 basic and diluted per share a year ago. Petroleum and natural gas sales were $56,577,000 against $143,088,000 a year ago. Capital expenditures were $26,583,000 against $43,884,000 a year ago.

For the nine months, the company reported net loss of $87,680,000 or $0.25 basic and diluted per share against net income of $26,746,000 or $0.08 basic and diluted per share a year ago. Funds flow was $145,200,000 or $0.41 basic and diluted per share against $153,603,000 or $0.44 basic and diluted per share a year ago. Petroleum and natural gas sales were $195,608,000 against $444,854,000 a year ago. Capital expenditures were $68,637,000 against $103,499,000 a year ago. Net debt as at September 30, 2015 was $308,370,000 against $355,918,000 September 30, 2014.

For the quarter, the company reported average daily production of heavy crude oil of 6,563 bbl per day against 10,962 bbl per day a year ago. Natural gas liquids were 130 bbl per day 192 bbl per day a year ago. Natural gas was 11,303 Mcf per day against 12,280 Mcf per day a year ago. Barrels of oil equivalent were 16,303 boe per day against 20,981 boe per day a year ago. Light & Medium crude oil was 7,726 bbl per day against 7,780 bbl per day a year ago.

For the nine months, the company reported average daily production of heavy crude oil of 7,445 bbl per day against 11,660 bbl per day a year ago. Natural gas liquids were 143 bbl per day 201 bbl per day a year ago. Natural gas was 11,874 Mcf per day against 12,201 Mcf per day a year ago. Barrels of oil equivalent were 17,594 boe per day against 21,534 boe per day a year ago. Light & Medium crude oil was 8,027 bbl per day against 7,639 bbl per day a year ago.

With a reduced capital program in the fourth quarter, and forecasted cash flow supported by the company's hedge program, net debt is expected to further decrease $10 million by year end to under $300 million.