Prairie Provident Announces Third Quarter 2025 Results

Core Insights - Prairie Provident Resources Inc. reported its financial and operational results for Q3 2025, highlighting a net loss of $6.9 million, which is a reduction of $12.0 million compared to Q3 2024 [6][7]. Financial Highlights - Revenue from petroleum and natural gas sales for Q3 2025 was $9.394 million, down from $12.554 million in Q2 2025 and $9.651 million in Q3 2024 [6]. - The net income (loss) for YTD 2025 was $(19.535) million, compared to $(6.841) million for YTD 2024 [6]. - Adjusted Funds Flow (AFF) for Q3 2025 was $(557,000), a decrease from $3.117 million in Q2 2025 and an increase from $264,000 in Q3 2024 [6][8]. Operational Highlights - Average production for Q3 2025 was 2,295 boe/d, which is a 6% increase or 122 boe/d compared to Q3 2024, primarily due to increased Basal Quartz production [7]. - Operating expenses for Q3 2025 were $30.39 per boe, reflecting a 13% increase from Q3 2024 [7]. - The operating netback for Q3 2025 was $1.9 million, or $9.18 per boe, representing a 27% decrease compared to Q3 2024 [7]. Subsequent Events - On October 31, 2025, the company completed a preferred share financing, raising $26.5 million in gross proceeds and amended its debt agreements to extend maturities by 24 months and defer cash interest obligations through 2026 [3]. - The company spud a three-leg open-hole Ellerslie horizontal well on November 13, 2025, and began construction of a water disposal facility to reduce operating costs and maximize production [4].