Iona Energy Inc. reported unaudited consolidated production results for the quarter and earnings and production results for the full year and ended December 31, 2014. For the quarter, net production was 395 boepd. Production was significantly impacted by issues with CATS, with production shut-in or constrained for all of fourth quarter of 2014.

For the full year, average net production was 2,229 barrels of oil equivalent per day driven by low availability of the Central Area Transmission System gas export system for Huntington.

During fourth quarter, the company also reduced gross CapEx, down from $228 million to $215 million on a gross basis.

For the full year, revenues were $90.5 million against $65.5 million a year ago. Adjusted EBITDA was $43.7 million against $47.9 million a year ago. Loss after tax was $119.5 million against $29.5 million loss a year ago. Through the year, the company generated $8 million in operating cash flow. The $18 million of CapEx.