The Calgary-based company, which earns revenue by sharing in production from lands for which it holds the petroleum mineral rights, says it produced 18,670 barrels of oil equivalent per day in the three months ended June 30.

PrairieSky Royalty Ltd. is reporting a 67 per cent drop in net earnings on sharply lower oil and gas prices in the first quarter.

More energy industry dividends are being slashed as investors turn their backs on companies whose payouts are now unaffordable with oil prices plunging to less than US$30 per barrel.