Quarterly / Earnings Reports
Treaty Energy Cites 'Troubling' Q2; CEO Betting on Q3/Q4
Print
|
Treaty Energy Corporation reported results for second quarter ended June 30, 2013.
The second quarter highlights an internal restructuring and transitionary period from marginal well operations to new oil and gas field development operations.
The second quarter was marked as an internal restructuring and transition period for Treaty Energy. During the three months starting April 1, 2013 to June 30, 2013, the Company transitioned from operating marginal/stripper wells to new drills. Just prior to April 1, 2013, Treaty Energy shut down marginal well operations and sold a majority of its well inventory to Heritage Oil and Gas on April 19, 2013 for a total of $550,000. With no operating inventory during this time, the Company acknowledges an operating loss and a very limited revenue stream…
- ✓ Full news archive — U.S., Canada & international coverage
- ✓ A&D transactions — asset deals, corporate M&A, assets for sale
- ✓ Permits & completions data, plus 900,000+ slides & presentations