Penn West Petroleum Q1 Loss Narrows - Quick Facts

(RTTNews) - Penn West Petroleum Ltd. (PWE, PWT.TO) reported a first-quarter net and comprehensive loss of C$96 million or C$0.20 per share, compared to a loss of C$97 million or C$0.20 per share, a year ago. Loss before taxes narrowed to C$72 million from a loss of C$123 million.

Funds flow per share was C$0.57, compared to C$0.55, prior year.

Oil and natural gas sales decreased to C$688 million from C$696 million. Gross revenues were C$668 million, compared to C$704 million.

The company's forecast for 2014 average production is 101,000 boe per day to 106,000 boe per day.