Dejour Energy Inc. Announces Unaudited Consolidated Earnings Results and Operating Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 11 15
Dejour Energy Inc. announced unaudited consolidated earnings results and operating results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues, net of royalties of CAD 1,768,000 against CAD 2,155,000 a year ago. Cash inflow was CAD 490,000 against cash outflow of CAD 32,000 a year ago. Net loss was CAD 503,000 or CAD 0.00 basic and diluted per share against net income of CAD 730,000 or CAD 0.00 basic and diluted per share a year ago. Total cash flows from operating activities were CAD 295,000 against total cash flows used in operating activities of CAD 482,000 a year ago. Loss before other items was CAD 504,000 against income before other items of CAD 719,000 a year ago. Additions to property and equipment were CAD 585,000 against CAD 451,000 a year ago.
For the six months, the company reported total revenues, net of royalties of CAD 3,045,000 against CAD 4,429,000 a year ago. Cash inflow was CAD 69,000 against CAD 355,000 a year ago. Net loss was CAD 1,672,000 or CAD 0.01 basic and diluted per share against CAD 2,252,000 or CAD 0.01 basic and diluted per share a year ago. Net debt as on June 30, 2015 was CAD 8,697,000. Total cash flows from operating activities were CAD 96,000 against CAD 55,000 a year ago. Loss before other items was CAD 1,674,000 against CAD 2,269,000 a year ago. Additions to property and equipment were CAD 1,840,000 against CAD 1,256,000 a year ago.
For the quarter, the company reported production of oil and natural gas liquids of 329 bbls/d and production of natural gas of 1,109 mcf/d against production of oil and natural gas liquids of 193 bbls/d and production of natural gas of 2,209 mcf/d a year ago. Combined production of 514 BOE/d against 561 BOE/d a year ago.
For the six months, the company reported production of oil and natural gas liquids of 287 bbls/d and production of natural gas of 1,363 mcf/d against production of oil and natural gas liquids of 179 bbls/d and production of natural gas of 2,250 mcf/d a year ago. Combined production of 514 BOE/d against 554 BOE/d a year ago.
Dejour Energy Inc. Announces an Operational Update for Its Project in NW Alberta
Jul 14 15
Dejour Energy Inc. announced an operational update for its project in NW Alberta. As previously reported, Dejour tied into production the B-100 Halfway oil step out well and the A- 100 Gething gas well from the 2014 drill program in first quarter 2015. Due to the successful implementation of enhancements to the waterflood operation and well completions in first quarter 2015, the Woodrush oil pool continues to experience significantly improved oil production performance (July to date average of 397 BO/d). Logs, production graphs and waterflood data showing this improved performance will be provided to the Company's independent reservoir engineers for consideration in the YE 2015 evaluation of the Company's P&NG reserves. The Woodrush project currently includes 4 oil wells and 9 natural gas wells with significant processing facilities
and in place pipeline to support further expansion. The scheduled maintenance at the McMahon gas plant that curtailed production has now been completed. Gas production at Woodrush shipped through the Spectra line is ramping up, currently averaging 1.8mmcf/d (300 BOE/d based on a `1:6' ratio).
Dejour Energy Inc. Announces an Operational Update for Its Project in NW Colorado
Jul 6 15
Dejour Energy Inc. announced an operational update for its project in NW Colorado. Since the commencement of the current phase of Kokopelli in September 2014, Dejour, together with its operating partner have completed the drilling, casing and testing of the produced water disposal (PWD) well on Pad 21A, vital to the economics of the ongoing Kokopelli production programs. This well is now ready to equip as a disposal well for produced water for all wells expected to be drilled in the future on the Jolley Mesa portion of the south lease at Kokopelli. Subsequently, on Pad 21B, less than 500 yards away, Dejour and its Operating Partner successfully drilled and cased 7 Williams Fork wells (Federal 14-15-1-21 through Federal 14-15- 8-21) and a single vertical 13600' Mancos test well (Federal 14-15-7-21) as contemplated in the original 2014 drill program by the Operating Partner. The completion phase of this program is underway. The PWD well is currently being equipped for injection and the installation of facilities for production of the eight production wells is scheduled including gathering lines to the original Pad 21A. Completion contracts have now been finalized (at an appropriate discount to previous cost estimations) utilizing the best frac intelligence available for each of the Williams Fork and the Mancos (Niobrara) well completions. These operations are scheduled for the second half of July 2015 and are expected to take up to 30 days, barring complication. Dejour will update this report when continuous well flow rates are available, following the tie-in of these wells into production lines.