Phoenix Energy Reports Q3 2025 Financial and Operating Results

Core Insights - Phoenix Energy One, LLC reported strong financial and operational results for Q3 2025, highlighting significant growth in revenues and net income compared to the same period in 2024 [1][4][8]. Financial Results - Total revenues for Q3 2025 reached $189.0 million, a 220% increase from $59.0 million in Q3 2024 [3][5]. - Net income for the quarter was $8.5 million, up $19.8 million or 175% from a loss of $11.3 million in Q3 2024 [4][5]. - EBITDA for Q3 2025 was $92.6 million, representing a 207% increase from $30.2 million in Q3 2024 [3][5]. Operational Results - Net oil-equivalent production for Q3 2025 was 2,550,211 BOE, compared to 1,053,651 BOE in Q3 2024, marking a significant increase [5]. - Average daily production increased to 27,720 BOE/d in Q3 2025 from 11,453 BOE/d in Q3 2024 [5]. - The company placed into service and commenced drilling on 44 gross and 37.3 net producing wells during the quarter [6]. Strategic Developments - Phoenix Energy syndicated its term loan facility, increasing borrowing capacity by $100 million [5]. - The company closed its initial public offering of Series A Cumulative Redeemable Preferred Shares, raising gross proceeds of $54.1 million [5]. - The company achieved operational milestones, including drilling five four-mile lateral wells from a single pad, a first in the Williston Basin [5][6]. Cost Efficiency - The Willer pad wells had an average cost of approximately $6.3 million per well, which is $1.4 million below budget, resulting in total project savings of about $8.6 million [7].