Providence Resources has reported that its revenue for last year fell 15% to just over €21m, due to lower commodity prices and the impact of hurricanes on production.
The average oil price per barrel achieved in 2009 was $88.23, compared to $111.07 in 2008.
Total production rose to almost 558,000 barrels of oil equivalent, mainly because of increased production from Singleton in the UK.
Providence recorded a pre-tax loss of €10.9m, narrower than the €50m recorded a year earlier, when the figures included a once-off writedown of the value of assets.
Chief executive Tony O'Reilly said the company was optimistic about 2010 as commodity prices had recovered and worldwide energy demand was returning to growth.
