Traverse Energy Ltd. reported unaudited earnings and operating results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported petroleum and natural gas revenue of $2,209,000 compared to $1,828,000 a year ago. Cash used in operating activities was $153,000 compared to cash from operating activities of $238,000 a year ago. Adjusted funds flow was $881,000 or $0.01 per basic and diluted share compared to $404,000 or $0.01 per basic and diluted share a year ago. Net loss was $2,967,000 or $0.03 per basic and diluted share compared to $856,000 or $0.01 per basic and diluted share a year ago. Capital expenditures were $10,590,000 compared to $2,874,000 a year ago.

For the year, the company reported petroleum and natural gas revenue of $10,023,000 compared to $7,220,000 a year ago. Cash from operating activities was $3,420,000 compared to $2,247,000 a year ago. Adjusted funds flow was $4,238,000 or $0.05 per basic and diluted share compared to $1,723,000 or $0.02 per basic and diluted share a year ago. Net loss was $5,006,000 or $0.05 per basic and diluted share compared to $3,434,000 or $0.05 per basic and diluted share a year ago. Capital expenditures were $17,706,000 compared to $6,613,000 a year ago.

For the quarter, the company reported total production of 708 BOE per day compared to 605 BOE per day a year ago.

For the year, the company reported total production of 768 BOE per day compared to 690 BOE per day a year ago.