Delphi Energy Corp. reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported petroleum and natural gas sales of CAD 18,858,000 against CAD 33,115,000 a year ago. Funds from operations were CAD 6,269,000 or CAD 0.04 per basic and diluted share against CAD 17,081,000 or CAD 0.14 per basic and diluted share a year ago. Net loss was CAD 29,394,000 or CAD 0.21 per basic and diluted share against net earnings of CAD 825,000 or CAD 0.01 per basic and diluted share a year ago. Acquisition of properties was CAD 139,000 against CAD 56,000 a year ago.

For the year, the company reported petroleum and natural gas sales of CAD 85,754,000 against CAD 126,887,000 a year ago. Funds from operations were CAD 32,305,000 or CAD 0.24 per diluted share against CAD 66,872,000 or CAD 0.56 per diluted share a year ago. Net loss was CAD 58,030,000 or CAD 0.43 per basic and diluted share against net earnings of CAD 11,602,000 or CAD 0.10 per basic and diluted share a year ago. Acquisition of properties was CAD 139,000 against CAD 273,000 a year ago. Generated funds from operations was CAD 32.3 million, a decrease of 52% from the previous year due to lower commodity prices (primarily realized natural gas prices) and production volumes. Reduced net debt at December 31, 2012 to CAD 92.8 million.

The company reported production results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported production of 7,229 boe/d against 9,337 boe/d a year ago.

For the year, the company reported production of 8,276 boe/d against 8,870 boe/d a year ago.

The company provided capital expenditures guidance for the year 2013. For the period, the company expects net capital expenditures to be CAD 50.0 million to CAD 55.0 million.