Iona Energy Inc. Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year and Ended December 31, 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.