Birchcliff Energy Ltd. Announces Strong Q1 2025 Results and Declares Q2 2025 Dividend

Core Viewpoint - Birchcliff Energy Ltd. reported strong operational and financial results for Q1 2025, driven by operational excellence and a high-quality asset base, with significant increases in production and adjusted funds flow compared to Q1 2024 [2][6][19]. Financial Highlights - Average production for Q1 2025 was 77,363 boe/d, a 3% increase from Q1 2024 [6][19]. - Adjusted funds flow reached $124.4 million, an 88% increase from Q1 2024, translating to $0.46 per basic common share [6][11][19]. - Cash flow from operating activities was $126.1 million, a 93% increase from Q1 2024 [6][11][19]. - Net income to common shareholders was $65.7 million, or $0.24 per basic common share, compared to a net loss of $15.0 million in Q1 2024 [6][22]. Operational Activities - The company drilled 14 wells and brought 8 wells on production in Q1 2025, with capital expenditures totaling $111.8 million [6][20][28]. - Birchcliff's market diversification led to an effective average realized natural gas sales price of $4.89/Mcf, a 142% premium to the AECO 7A Monthly Index price [6][19]. Debt and Credit Facilities - Total debt at March 31, 2025, was $534.7 million, a 21% increase from the previous year [23]. - The company extended the maturity dates of its credit facilities to May 11, 2028, with a confirmed borrowing base limit of $850 million [10][23]. 2025 Guidance - Birchcliff reaffirmed its annual average production guidance of 76,000 to 79,000 boe/d and capital expenditures guidance of $260 million to $300 million [14][28]. - The company anticipates a reduction in total debt by approximately 28% from year-end 2024, expecting to exit 2025 with total debt between $365 million and $405 million [14][28].