Parallel Energy Trust reported earnings and production results for the second quarter ended June 30, 2014. For the quarter, revenue, net of royalties was CAD 26,820,000 against CAD 22,750,000 a year ago. Funds from operations were CAD 10,659,000 against CAD 11,282,000 a year ago. Net income was CAD 849,000 against CAD 4,012,000 a year ago. Capital expenditures excluding acquisitions were CAD 5,539,000 against CAD 3,014,000 a year ago.

For the quarter, the company reported average daily production of 7,183 boe/day against 6,607 boe/day a year ago.

For the full year of 2014, the company is confident that it can achieve its full year production guidance of 7,100 boe/day to 7,300 boe/day. In terms of sustainability, the company remain on target to achieve its full year cash flow guidance of CAD 46 million.