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Last C$0.62 CAD
Change Today -0.02 / -3.12%
Volume 4.5K
TVL On Other Exchanges
Symbol
Exchange
OTC US
As of 3:56 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

traverse energy ltd (TVL) Snapshot

Open
C$0.64
Previous Close
C$0.64
Day High
C$0.64
Day Low
C$0.62
52 Week High
06/12/14 - C$1.45
52 Week Low
03/23/15 - C$0.60
Market Cap
42.9M
Average Volume 10 Days
37.4K
EPS TTM
C$-0.06
Shares Outstanding
69.2M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for TRAVERSE ENERGY LTD (TVL)

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traverse energy ltd (TVL) Details

Traverse Energy Ltd. is engaged in the exploration, development, and production of petroleum and natural gas in Canada. The company has interests in the areas of Coyote, Willow, Hanna, Turin, and Brazeau in the province of Alberta. As of March 31, 2014, its undeveloped land holdings consisted of 173,700 net acres. The company was formerly known as Firstland Energy Limited and changed its name to Traverse Energy Ltd. in June 2009. Traverse Energy Ltd. was incorporated in 1995 and is headquartered in Calgary, Canada.

Founded in 1995

traverse energy ltd (TVL) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: --
Chief Financial Officer
Total Annual Compensation: C$131.3K
Compensation as of Fiscal Year 2013.

traverse energy ltd (TVL) Key Developments

Traverse Energy Ltd. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Production Results for the Fourth Quarter and Full Year Ended December 31, 2014

Traverse Energy Ltd. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported petroleum and natural gas revenue of CAD 5,508,000 compared to petroleum and natural gas revenue of CAD 4,055,000 for the same period a year ago. Cash provided by operations was CAD 3,473,000 compared to CAD 2,723,000 last year. Funds from operations were CAD 3,420,000 or CAD 0.05 per basic and diluted share compared to CAD 1,958,000 or CAD 0.04 per basic and diluted share last year. Net loss was CAD 6,358,000 or CAD 0.10 per basic and diluted share compared to net income of CAD 27,000 last year. Capital expenditures, net of dispositions was CAD 7,725,000 compared to CAD 5,482,000 last year. For the year, the company reported petroleum and natural gas revenue of CAD 19,717,000 compared to petroleum and natural gas revenue of CAD 14,674,000 for the same period a year ago. Cash provided by operations was CAD 10,182,000 compared to CAD 10,594,000 last year. Funds from operations were CAD 11,556,000 or CAD 0.18 per basic and diluted share compared to CAD 9,914,000 or CAD 0.20 per basic and diluted share last year. Net loss was CAD 4,570,000 or CAD 0.07 per basic and diluted share compared to net income of CAD 3,245,000 or CAD 0.07 per basic and diluted share last year. Capital expenditures, net of dispositions was CAD 30,821,000 compared to CAD 14,875,000 last year. The company reported production results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported production of 1,249 (boe/d) compared to production of 787 (boe/d) for the same period a year ago. For the year, the company reported production of 975 (boe/d) compared to production of 680 (boe/d) for the same period a year ago.

Traverse Energy Ltd. Revises Exploration and Development Guidance for the Year 2015; Announces Exploration Results for the Year 2014 and Month of January 2015

Traverse Energy Ltd. revised exploration and development guidance for the year 2015. For the year, the company approved a reduction in the 2015 exploration and development program as a result of the current commodity price environment. The exploration and development program for 2015 of $34 million has been reduced to $15 million. The corporation's drilling program for 2015 has been reduced from 14 wells, including 7 horizontals, to an estimated 7 wells, including 2 horizontals. The 2015 drilling program will continue to focus on light oil projects at Coyote and Michichi in southern Alberta. The budget is to be financed by cash flow and new equity issues or debt where appropriate. In 2014, the company drilled 14 wells resulting in 9 oil wells and 5 natural gas wells. At the end of 2014, 7 oil wells and 3 gas wells had commenced production with the remaining wells completed and awaiting tie in. The Coyote battery expansion was completed in the third quarter with clean oil shipments commencing in late August. The facility is licensed to treat up to 2,000 barrels of oil and water and 4 mmcf of gas per day. At Turin, Traverse completed the installation of a booster compressor at the central battery. Total capital expenditures for 2014 are estimated at $31 million. The first two horizontal wells drilled in the Coyote Ellerslie pool were completed in October and commenced production in mid-November. The first well completed averaged 173 BOE/day from the beginning of test to the end of January. For the month of January 2015, the company's average production was 88 BOE/day. The second well completed averaged 353 BOE/day from the beginning of test to the end of January. Average January production from this well was 253 BOE/day. These averages are calculated utilizing producing hours - the wells were on production 90% of the time during December and January. The wells encountered some initial production issues due to the recovery of fracture sand placed during completion operations.

Traverse Energy Ltd. Announces Financial and Production Results for the Third Quarter and Nine Months Ended September 30, 2014

Traverse Energy Ltd. announced financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported petroleum and natural gas revenue of $5.336 million against $4.819 million a year ago. Cash flow from operating activities was $3.160 million or $0.05 per diluted share against $3.789 million or $0.08 per diluted share a year ago. Net income was $0.635 million or $0.01 per diluted share against $1.636 million or $0.03 per diluted share a year ago. Capital expenditures was $10.658 million against $4.957 million a year ago. For the nine months, the company reported petroleum and natural gas revenue of $14.209 million against $10.618 million a year ago. Cash flow from operating activities was $6.709 million or $0.10 per diluted share against $7.871 million or $0.16 per diluted share a year ago. Net income was $1.788 million or $0.03 per diluted share against $3.217 million or $0.07 per diluted share a year ago. Capital expenditures was $23.096 million against $9.393 million a year ago. For the quarter, the company produced natural gas of 3,710 Mcf/day against 1,560 Mcf/day a year ago. Oil and NGL was 497 bbls/day against 505 bbls/day a year ago. For the nine months, the company produced natural gas of 2,560 Mcf/day against 1,536 Mcf/day a year ago. Oil and NGL was 457 bbls/day against 389 bbls/day a year ago.

 

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Price/Sales 2.4x
Price/Book 1.3x
Price/Cash Flow 19.0x
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