Renaissance Reports Second Quarter 2017 Results, Executive Apointments and Operational Update

Renaissance Oil Corp. (“Renaissance” or the “Company”) (TSX-V:ROE) reports its second quarter 2017 (“Q2 2017”) results. All dollar figures are Canadian dollars, unless otherwise noted.

As quoted in the press release:

  • Crude oil production increased by 3% and natural gas production decreased by 10% in Q2 2017 compared with the previous quarter;

  • Revenues were $5,372,763 in Q2 2017 compared with $5,531,569 in the previous quarter, resulting from general decreases in crude oil and natural gas prices in Mexico and fluctuations in natural gas production;

  • Operating costs of $2.88 per boe were consistent in Q2 2017 with the previous quarter, and declined by 35% from $4.33per boe, in the fourth quarter of 2016; and

  • In Q2 2017, Renaissance completed the final closing of a brokered private placement of equity for gross proceeds of approximately $12.8 million.

Click here for the full text release

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