Bonterra Energy Announces Third Quarter 2025 Financial Results and Operations Update

Core Viewpoint - Bonterra Energy Corp. reported a 7% increase in year-to-date production, reduced net debt, and maintained production and capital expenditure guidance ranges for 2025 [1] Financial Highlights - Revenue from realized oil and gas sales for Q3 2025 was $55.2 million, down from $69.2 million in Q3 2024 [2] - Funds flow for Q3 2025 was $21.3 million ($0.58 per diluted share), a decrease of $8.7 million compared to Q3 2024 [2][8] - Net loss for the nine months ended September 30, 2025, was $12.5 million, primarily due to a one-time debt extinguishment cost of $11.6 million [3] - Capital expenditures totaled $53.6 million for the nine months ended September 30, 2025, with $22.7 million directed towards infrastructure and land acquisitions [2][8] Operational Highlights - Average production for the first nine months of 2025 was 15,600 BOE per day, a 7% increase from 14,586 BOE per day in the same period of 2024 [8] - Production costs averaged $16.92 per BOE in the first nine months of 2025, slightly up from $16.71 per BOE in the same period of 2024 [8] - The company drilled three gross (2.7 net) wells in Q3 2025, with two expected to be tied-in during Q4 2025 [9] Debt and Financial Position - Net debt as of September 30, 2025, was $167.8 million, a decrease of $2.1 million from Q2 2025 [8][13] - The net debt to EBITDA ratio was 1.4:1 as of September 30, 2025 [8][27] Strategic Initiatives - The company has secured physical delivery sales and risk management contracts for approximately 43% of expected crude oil production and 30% of natural gas production over the next nine months [14][15] - Bonterra is maintaining its annual production guidance of 15,000 to 15,200 BOE per day and capital expenditure guidance of $65 to $70 million for 2025 [17][18] - The company plans to continue focusing on free funds flow generation and balance sheet management [18][19]