Petrus Resources Announces Third Quarter 2025 Financial & Operating Results

Core Insights - Petrus Resources Ltd. reported financial and operational results for Q3 2025, highlighting a 7% increase in average production and a 21% increase in funds flow compared to the previous year [6][3]. Financial Performance - Average production for Q3 2025 was 9,817 boe/d, up from 9,155 boe/d in Q2 2025, with oil and condensate production increasing by 23% [6][7]. - Funds flow reached $12.9 million ($0.10 per share), a 21% increase from $10.7 million ($0.09 per share) in Q3 2024, attributed to higher production volumes and lower royalty expenses despite a 9% decrease in total realized price [6][7]. - Net debt decreased by 5% to $64.9 million, down $3.1 million from Q2 2025 [6][7]. - Capital expenditures for Q3 2025 totaled $8.3 million, with 81% allocated to drilling and completing new wells [6][7]. Production and Pricing - Natural gas production averaged 38,406 mcf/d, while oil and condensate production averaged 1,523 bbl/d [7]. - The total realized price per boe was $21.90, down from $24.07 in Q3 2024 [7][8]. - Operating expenses averaged $5.86/boe, a 4% decrease from $6.10/boe in Q3 2024 [6][7]. Outlook and Strategy - The company plans to drill two new wells in Q4 2025 and expects full-year capital investment to remain within the $40 to $50 million range [3][4]. - Average annual production is forecasted to meet guidance of 9,000 to 10,000 boe/d, with funds flow expected to align with guidance of $45 to $55 million [3][4]. - For 2026, approximately 50% of forecasted production has been hedged at an average price of $2.89/GJ for natural gas and CAD$87.23/bbl for oil, supporting financial stability [4][21].