If you invested in Civitas you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/civitas-resources-inc. NEW YORK, May 15, 2025 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces that a lawsuit has been filed against Civitas Resources, Inc. (NYSE: CIVI) and certain of the Company's senior executives for potential violations of the federal securities laws. Investors have until July 1, 2025, to ask the Court to be appointed ...

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].

Core Viewpoint - VAALCO Energy is actively pursuing oil and gas development projects in Côte d'Ivoire and Gabon, with significant plans for drilling and refurbishment of production facilities aimed at enhancing production efficiency and extending the economic life of its assets [1][5]. Côte d'Ivoire Developments - The company plans to refurbish the FPSO Baobab at the Baobab field in Block CI-40, which ceased production on January 31, 2025, and will undergo dry dock refurbishment in Dubai [2][3]. - The refurbishment is essential for extending the economic life of the Baobab field, allowing for continued oil production until at least 2038 [3]. - VAALCO Energy holds a 27.39% stake in the Baobab field, which is operated by Canadian Natural Resources International with a 57.61% interest [4]. - A significant development drilling campaign is scheduled for 2026, which is expected to increase hydrocarbon production from the Baobab field [5]. Expansion into Block CI-705 - In March 2025, VAALCO Energy entered a farm-in agreement for Block CI-705, acquiring a 70% working interest and a 100% paying interest through a commercial carry agreement [6]. Gabon Drilling Campaign - The company is preparing for a drilling program in Gabon for 2025/2026, expected to commence in the third quarter of 2025 [7]. - The Gabon drilling campaign will include development, appraisal, and exploration wells, as well as workovers for existing wells [8]. - A rig has been contracted from Borr Drilling for the drilling program, which will focus on the Etame and Southeast Etame North Tchibala platforms [8]. - Plans also include re-drilling existing wells and performing workovers at the Ebouri field to restore production and access previously removed reserves [9].

Core Viewpoint - Valeura Energy Inc. reported strong financial and operational results for Q1 2025, highlighting a significant increase in adjusted cash flow from operations and a robust balance sheet, despite a decrease in oil production and revenue compared to the previous quarter. Financial Performance - Adjusted cash flow from operations reached US$74 million, a 55% increase compared to Q1 2024, attributed to a more tax-efficient corporate structure [3][14] - Oil revenue for Q1 2025 was US$148 million, essentially unchanged from Q1 2024, despite a 36% decrease in oil volumes sold [6][12] - Net income for Q1 2025 was US$14 million, a 93% decrease compared to the previous quarter [6] Operational Highlights - Average daily oil production was 23,853 bbls/d, an 8% increase year-over-year, but an 11% decrease from the previous quarter [6][10] - Adjusted operating expenses per barrel decreased to US$24.1, an 8% improvement compared to Q1 2024 [7][13] - The company maintained a strong cash position of US$239 million with no debt as of March 31, 2025 [5][16] Production and Inventory - Total working interest share production before royalties was 2.15 million bbls, an 8% increase from Q1 2024 [10] - Oil sales totaled 1.88 million bbls, leading to an increase in oil inventory to 0.89 million bbls by the end of Q1 2025 [11] Strategic Initiatives - The company is pursuing both organic and inorganic growth opportunities, with ongoing production operations across all fields in the Gulf of Thailand [5][17] - A positive final investment decision was made for the Wassana field redevelopment project, targeting production start in Q2 2027 [22][23] Future Outlook - Valeura expects to meet its production guidance range for 2025 of 23,000 – 25,500 bbls/d, supported by ongoing drilling campaigns and operational improvements [17][52]

Core Viewpoint - Valeura Energy Inc. has made a final investment decision to redevelop the Wassana field in the Gulf of Thailand, which is expected to significantly enhance shareholder value through increased production and reserves [1][4]. Redevelopment Project Details - The redevelopment will involve a new central processing platform (CPP) designed to optimize the full potential of the Wassana field [9][11]. - First oil production is anticipated in Q2 2027, with peak production expected to reach 10,000 barrels per day (bbls/d) in the second half of 2027, which is more than 2.7 times the current output [9][14]. - The total investment for the redevelopment is estimated at US$120 million, with US$40 million planned for 2025 and the remainder in 2026, fully funded from existing cash reserves [9][13]. Reserves and Resources Update - The Wassana field's proved plus probable (2P) reserves have increased to 20.5 million barrels, representing an increment of approximately 18 million barrels compared to previous estimates [9][19]. - The end-of-field life (EOFL) has been extended to 2043, an increase of 16 years [9][15]. - The net present value (NPV10) of the 2P reserves before tax is estimated at US$354.5 million, and after tax at US$218.2 million, indicating a significant increase in asset value [21][23]. Economic Viability - The redevelopment project is projected to deliver an internal rate of return (IRR) of approximately 40% even at a lower oil price environment of US$60 per barrel, with a payback period of 18 months [6][16]. - The project is designed to be resilient against various price scenarios, providing a favorable risk-reward profile for shareholders [6][7]. Production and Operating Efficiencies - The new CPP will allow for more extensive drilling and a longer facility design life, resulting in increased cash flow generation [11][14]. - The anticipated operating costs are expected to decrease significantly, with adjusted operating expenses per barrel projected to be in the range of US$12 to US$16 [14]. Guidance Update - The company's guidance for adjusted capital expenditures for 2025 has been revised to US$165 million to US$185 million, reflecting the anticipated spending on the Wassana redevelopment project [28][31]. - Free cash flow guidance for 2025 is projected to be between US$80 million and US$195 million, based on benchmark Brent oil prices ranging from US$65 to US$85 per barrel [29][30].

Core Insights - Peyto Exploration & Development Corp. reported strong operating and financial results for Q1 2025, driven by increased natural gas prices and effective risk management strategies [3][6][25]. Financial Performance - Funds from operations (FFO) reached $225.2 million, or $1.12 per diluted share, a 10% increase from Q1 2024 [6][40]. - Earnings for the quarter totaled $114.1 million, or $0.57 per diluted share, reflecting a 14% year-over-year increase [6][9]. - The company reduced net debt by $65.7 million, bringing it down to $1.28 billion [6][46]. - Total capital expenditures were $102.1 million, with a total payout ratio of 76%, down from 89% in Q1 2024 [6][54]. Production and Pricing - Average production volumes increased by 7% year-over-year to 133,883 boe/d, with natural gas production averaging 710.5 MMcf/d [6][9]. - The realized natural gas price after hedging was $4.17/Mcf, 89% higher than the AECO 7A monthly benchmark of $1.92/GJ [6][13]. - The company recorded $50.8 million in realized hedging gains during the quarter [6][13]. Cost Structure - Cash costs totaled $1.42/Mcfe, a 6% decrease from $1.51/Mcfe in Q1 2024, maintaining the lowest cash costs among Canadian producers [6][15]. - Operating margin stood at 71%, with a profit margin of 32% [6][16]. Capital Expenditures and Drilling Activity - Peyto drilled 19 wells (18.2 net) and completed 13 wells (13.0 net) during the quarter [10][21]. - The company invested $15.5 million in gathering and processing facilities, enhancing its operational capacity [10]. Market Outlook - The company remains optimistic about future natural gas prices, supported by increasing U.S. LNG export demand and ongoing natural gas demand for AI-driven data centers [25][26]. - Peyto's capital guidance for 2025 is set between $450 million and $500 million, with plans to adjust based on commodity price fluctuations [26].

NEW YORK, May 13, 2025 /PRNewswire/ -- Levi & Korsinsky, LLP notifies investors in Civitas Resources, Inc. ("Civitas Resources" or the "Company") (NYSE: CIVI) of a class action securities lawsuit.CLASS DEFINITION: The lawsuit seeks to recover losses on behalf of Civitas Resources investors who were adversely affected by alleged securities fraud between February 27, 2024 and February 24, 2025. Follow the link below to get more information and be contacted by a member of our team:https://zlk.com/pslra-1/civit ...

Core Points - Prospera Energy Inc. plans to raise up to $2,000,000 through a non-brokered private placement of 12% convertible debentures, with conversion prices set at $0.05 for the first year and $0.10 for the second year [1][2] - The funds raised will be allocated for well reactivation, production optimization, strategic acquisitions, and working capital [2][4] - The offering includes a provision for a forced conversion if the company's shares trade at $0.125 for ten consecutive days [2] Financial Details - The convertible debentures will have a two-year term and will be secured by a second-priority lien, subordinate to existing senior debt [2][4] - Interest on the debentures is set at 12%, calculated quarterly and payable at maturity or conversion date, with the option to pay in cash or shares [2][4] - The company may pay finders a fee of 7% in cash and 7% in warrants for their assistance in the offering [2][3] Operational Updates - Prospera has mobilized a service rig to its Cuthbert property for a multi-well program aimed at increasing production [6] - Approximately 20% of the company's oil production is now committed to a seasonal asphalt sales agreement, enhancing netbacks through better pricing and transportation efficiencies [5] - The company is advancing a polymer flood pilot project in the Luseland pool, with three potential locations identified for optimal polymer injection [7] Strategic Initiatives - The corporation is working on consolidating its balance sheet under one senior secured debt instrument to enhance capital flexibility and support its business plan [4] - The company is expected to release its Q1 2025 financial statements on May 21, 2025, followed by an investor conference call on May 22, 2025 [8]

CALGARY, Alberta, May 12, 2025 (GLOBE NEWSWIRE) -- TSX-V: CWV: Crown Point Energy Inc. (“Crown Point”, the “Company” or “we”) today announced its financial and operating results for the three months ended March 31, 2025. Selected information is outlined below and should be read in conjunction with the Company’s March 31, 2025 unaudited condensed interim consolidated financial statements and management’s discussion and analysis (“MD&A”) that are being filed with Canadian securities regulatory authorities and ...

Investors looking for stocks in the Oil and Gas - Exploration and Production - United States sector might want to consider either Venture Global (VG) or Cheniere Energy (LNG) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.Everyone has their own methods for finding great value opportunities, but our model includes pairing an impressive grade in the Value category of our Style Scores system with a strong Zacks Rank. The Zacks Rank is a ...