CALGARY, Alberta, March 22, 2017 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“TEI” or the “Corporation”) (TSX:TEI) announces financial and operating results for the year ended December 31, 2016.
Financial and operating results:
The following summarizes information contained in the Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2016. This news release should not be considered a substitute for reading the full disclosure documents, which are available on SEDAR at www.sedar.com and on the Corporation’s website at www.sprott-toscana.com.
Year ended December 31 |
Three months ended December 31 |
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2016 | 2015 | Change | 2016 | 2015 | Change | |||
Average daily production (boe/d) | 2,252 | 2,259 | (0 | %) | 2,085 | 2,517 | (17 | %) |
Petroleum and natural gas revenue, net of royalties ($) | 20,731,084 | 22,705,919 | (9 | %) | 5,429,739 | 6,084,131 | (11 | %) |
Netback ($) | 11,571,753 | 16,403,222 | (29 | %) | 2,147,161 | 4,972,688 | (57 | %) |
Netback per boe ($/boe) | 14.04 | 19.90 | (29 | %) | 11.20 | 21.48 | (48 | %) |
Funds flow from operations ($) | 5,965,398* | 6,317,344 | (6 | %) | 246,604* | 2,997,122 | (92 | %) |