Marquee Energy Ltd. reported consolidated earnings and production results for the first quarter ended March 31, 2017. For the quarter, the company reported oil and natural gas sales of $7,423,000 against $7,749,000 a year ago. Funds flow from operations were $1,332,000 against $1,392,000 or $0.01 per basic and diluted share a year ago. Net loss was $3,663,000 or $0.01 per basic and diluted share against $7,918,000 or $0.04 per basic and diluted share a year ago. Capital expenditures were $6,611,000 against $100,000 a year ago. Net debt as at March 31, 2017 was $22,688,000 against $49,058,000 a year ago.

For the quarter, the company's production averaged 2,479 boe/d (46% liquids), down 79 boe/d (3%) from the fourth quarter 2016.

For the second half of 2017, the Board of Directors approved a capital budget of approximately $15 million.

For the year 2017, the production growth is expected to increase the company's oil and liquids weighting and reduce corporate unit operating costs generating an expected improvement of field netbacks by more than 40%.