Last C$0.70 CAD
Change Today 0.00 / 0.00%
Volume 0.0
TVL On Other Exchanges
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As of 3:20 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

traverse energy ltd (TVL) Snapshot

Open
C$0.70
Previous Close
C$0.70
Day High
C$0.70
Day Low
C$0.65
52 Week High
06/12/14 - C$1.45
52 Week Low
12/5/14 - C$0.64
Market Cap
48.5M
Average Volume 10 Days
25.7K
EPS TTM
C$0.03
Shares Outstanding
69.2M
EX-Date
--
P/E TM
24.1x
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.

11 Employees
Last Reported Date: 04/15/14
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. 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.

Traverse Energy Ltd. Reports Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2014

Traverse Energy Ltd. reported earnings and production results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported petroleum and natural gas revenue of $4.338 million against $3.038 million a year ago. Cash flow from operating activities was $1.461 million or $0.02 per basic and diluted share against $1.922 million or $0.04 per basic and diluted share a year ago. Funds from operations were $2.409 million or $0.02 per basic and diluted share against $2.124 million or $0.04 per basic and diluted share a year ago. Net income was $0.407 million or $0.01 per basic and diluted share against $1.060 million or $0.02 per basic and diluted share a year ago. Capital expenditures were $5.475 million against $1.674 million a year ago. For the six months, the company reported petroleum and natural gas revenue of $8.873 million against $5.799 million a year ago. Cash flow from operating activities was $3.549 million or $0.06 per basic and diluted share against $4.082 million or $0.09 per basic and diluted share a year ago. Funds from operations were $5.005 million or $0.08 per basic and diluted share against $4.161 million or $0.09 per basic and diluted share a year ago. Net income was $1.153 million or $0.02 per basic and diluted share against $1.581 million or $0.03 per basic and diluted share a year ago. Capital expenditures were $12.439 million against $4.435 million a year ago. For the quarter, the company reported natural gas production of 2,139 Mcf/day against 1,638 Mcf/day a year ago. Oil and NGL production was 418 bbls/day against 326 bbls/day a year ago. Total production was 775 BOE/day against 599 BOE/day a year ago. For the six months, the company reported natural gas production of 1,975 Mcf/day against 1,524 Mcf/day a year ago. Oil and NGL production was 436 bbls/day against 329 bbls/day a year ago. Total production was 765 BOE/day against 584 BOE/day a year ago.

 

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Price/Sales 2.8x
Price/Book 1.2x
Price/Cash Flow 5.4x
TEV/Sales 2.7x
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