Triangle Petroleum Loss Wider Than Estimates

(RTTNews) - Triangle Petroleum Corp (TPLM) on Monday reported first-quarter net loss of $180.2 million or $2.39 per share compared with a profit of $14.5 million or $0.15 per share last year.

Excluding items, adjusted loss for the quarter was $0.09 per share compared with a profit of $0.12 per share a year ago.

Revenues for the quarter were $118.3 million compared with $99.8 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.04 per share on revenues of $140.3 million for the quarter. Analysts' estimates typically exclude special items.

Expenses for the quarter were $332.2 million versus $77.3 million a year ago.

The company said it is increasing full fiscal year 2016 production guidance to a range of 11,500-13,500 Boepd.