Waldron Energy Corporation announced earnings and operating results for the first quarter ended March 31, 2014. For the quarter, the company's petroleum and natural gas sales was CAD 7.25 million compared with CAD 5.95 million a year ago. Funds from operations were CAD 2.24 million or CAD 0.04 per basic and diluted share compared with CAD 2.02 million or CAD 0.05 per basic and diluted share a year ago. Net loss was CAD 1.34 million or CAD 0.02 per basic and diluted share compared with CAD 1.26 million or CAD 0.03 per basic and diluted share a year ago. Capital expenditures were CAD 4.72 million compared with CAD 0.7 million a year ago. As on March 31, 2014, the company's net debt was CAD 30.64 million against CAD 34.69 million as on March 31, 2013.

For the quarter, the company's natural gas production was 7,544 mcf/d compared with 9,426 mcf/d a year ago. NGL production was 287 bbls/d compared with 392 bbls/d a year ago. Light crude oil production was 143 bbls/d compared with 156 bbls/d a year ago. Average production was 1,687 BOE per day compared with 2,119 BOE per day a year ago.

The company estimated second quarter 2014 production of 1,700 BOE per day, remaining flat compared to first quarter of 2014.