Terra Energy Corp. Reports Earnings Results for the Third Quarter Ended September 30, 2014; Reports Production Results for the Third Quarter Ended September 30, 2014; Provides Capital Spending Guidance for the Year 2014
The company reported production results for the third quarter ended September 30, 2014. For the quarter, the company reported average production of 3,647 boe/d and consisted of 82% natural gas with 18% oil and liquids.
The company provided capital spending guidance for the year 2014. The company remains committed to limiting capital spending to available cash flow and as such plan for capital spending in 2014 is weighted towards relatively lower risk projects such as pipeline tie-ins of existing wells and recompletions.