TransAtlantic Petroleum Ltd. announced unaudited consolidated earnings results for the third quarter and nine months and operating results for the third quarter ended September 30, 2015. For the quarter, the company reported average net sales production of 5,018 BOEPD comprised of 5,033 BOEPD.

For the quarter, the company reported total revenues of $20,215,000 compared to $36,077,000 a year ago. Operating loss was $19,453,000 compared to operating income of $9,826,000 a year ago. Income from continuing operations before income taxes was $1,448,000 compared to $13,089,000 a year ago. Net income from continuing operations was $185,000 compared to $8,313,000 a year ago. Net income was $185,000 compared to $8,313,000 a year ago. Basic and diluted net income per common share from continuing operations was $0.00 compared to $0.22 a year ago. Adjusted EBITDAX from continuing operations was $14,949,000 compared to $24,057,000 a year ago. Capital expenditures, including seismic and corporate expenditures, totaled $10.2 million compared to $33.4 million a year ago. The company generated discretionary cash flow of $23 million or $0.61 per share.

For the nine months, the company reported total revenues of $75,701,000 compared to $110,784,000 a year ago. Operating loss was $20,236,000 compared to operating income of $28,315,000 a year ago. Loss from continuing operations before income taxes was $8,960,000 compared to income from continuing operations before income taxes of $21,796,000 a year ago. Net loss from continuing operations was $12,559,000 compared to net income from continuing operations of $13,743,000 a year ago. Net loss was $12,559,000 compared to net income of $13,723,000 a year ago. Basic and diluted net loss per common share from continuing operations was $0.31 compared to income of $0.37 a year ago. Net cash provided by operating activities from continuing operations was $38,162,000 compared to $70,181,000 a year ago. Adjusted EBITDAX from continuing operations was $49,794,000 compared to $73,417,000 a year ago.

The company expects fourth quarter CapEx to be in the range of $4 million to $8 million, primarily associated with well completions and production optimizations.