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Traverse Energy Ltd. (V:TVL)

Business Focus: Oil & Gas Exploration and Production

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Sector:  Energy Industry:  Oil & Gas Exploration and Production
See Regulatory Filings on SEDAR
Company Contact
Address: 780-839 5 Ave SW
Tel: N/A
IR: See website
Key People
Laurie J. Smith
President, Chief Executive Officer, Director
Sharon A. Supple
Chief Financial Officer
David H. Erickson
Chief Operating Officer, Vice President, Director
Daniel G. Kolibar
Corporate Secretary, Independent Director
Business Overview
Traverse Energy Ltd. is an oil and gas exploration, development and production company. The Company conducts its operations in the province of Alberta. The Company's production consists of natural gas, oil and natural gas liquids. Its principal oil and natural gas properties are located in the areas of Coyote, Michichi and Turin in the province of Alberta. In the Coyote area, located approximately 40 kilometers east of Drumheller in East Central Alberta, the Company holds a working interest in over 35,240 net acres. The Company holds a working interest in over 29,760 net acres in the Michichi area, located approximately 20 kilometers west of the Coyote property. In the Turin area, located approximately 20 kilometers northeast of Lethbridge in Southern Alberta, the Company holds an interest in over 5,680 net acres. The Company holds various minor over-riding royalty (ORR) interests in producing oil and natural gas wells, all located within the province of Alberta.
Financial Overview
For the fiscal year ended 31 December 2018, Traverse Energy Ltd. revenues decreased 34% to C$6.4M. Net loss increased from C$5M to C$17.7M. Revenues reflect Petroleum and natural gas decrease of 33% to C$6.7M. Higher net loss reflects Avg. Production Costs per Barrel, Total increase of 11% to C$17.79 per barrel, Exploration and evaluation expense increase from C$3.6M to C$11.9M (expense).
Reporting Currency: Canadian Dollars
Enterprise value: $11.62M as of Mar 31, 2019
Annual revenue (TTM): $6.40M as of Mar 31, 2019
EBITDA (TTM): -$10.42M as of Mar 31, 2019
Net annual income (TTM): -$17.71M as of Mar 31, 2019
Free cash flow (TTM): -$0.74M as of Mar 31, 2019
Net Debt Last Fiscal Year: $6.45M as of Mar 31, 2019
Shares outstanding: 103,496,752 as of Dec 31, 2018
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization