Core Insights - Prairie Provident Resources Inc. reported its financial and operational results for Q2 2025, highlighting significant production increases and improved financial metrics compared to previous periods [1][5]. Financial Highlights - Q2 2025 production averaged 2,762 boe/d, a 35% increase from Q2 2024 and a 24% increase from Q1 2025, driven by higher Basal Quartz production [5][7]. - Operating expenses for Q2 2025 were $25.37 per boe, a 35% decrease from Q2 2024, attributed to higher production volumes [5][7]. - The operating netback for Q2 2025 was $4.9 million, or $19.45 per boe, representing a 634% increase compared to Q2 2024 [5][7]. - The company reported a net loss of $6.5 million in Q2 2025, a slight improvement from a loss of $6.9 million in Q2 2024 [5][7]. Production and Operational Updates - The company successfully brought three Basal Quartz wells into production in April 2025, with initial production rates showing promising results [3][4]. - The Michichi BQ play is characterized by variable reservoir and geological rock characteristics, with the company actively pursuing additional delineation [4][6]. - Prairie Provident has identified approximately 50 potential drilling opportunities targeting medium crude oil on its Michichi lands [6]. Capital Expenditures - Capital expenditures for Q2 2025 were reported at $2.923 million, significantly higher than the $440,000 in Q2 2024 [7][25]. - The company received additional funding of US$0.6 million through the issuance of Second Lien Notes in early June 2025 [5]. Market Context - The company operates in the Alberta oil and gas sector, focusing on optimizing cash flow from existing assets while maintaining stable production levels [10].

Core Viewpoint - Parex Resources Inc. has announced a production update and plans to release its Q2 2025 financial and operating results on July 30, 2025 [1] Production Update - Estimated average production for Q2 2025 was 42,550 barrels of oil equivalent per day (boe/d) [6] - Monthly average production for June 2025 was approximately 43,950 boe/d, showing growth supported by positive exploration results and the successful startup of a horizontal well at LLA-74 in the Southern Llanos [6] - Breakdown of production by region for Q2 2025 includes: - Block LLA-34: 21,500 boe/d - Southern Llanos: 13,800 boe/d - Northern Llanos: 4,000 boe/d - Magdalena Basin: 2,250 boe/d - Natural Gas Production: 1,000 boe/d [3] Monthly Production Breakdown - Monthly average production figures are as follows: - April 2025: 41,350 boe/d - May 2025: 42,300 boe/d - June 2025: 43,950 boe/d [4] Product Type Disclosure - For the three months ended June 30, 2025, the product type breakdown was: - Light & Medium Crude Oil: 10,662 barrels per day (bbl/d) - Heavy Crude Oil: 30,899 bbl/d - Conventional Natural Gas: 5,941 thousand cubic feet per day (mcf/d) [7] Upcoming Events - Parex will host a conference call and webcast on July 30, 2025, at 9:30 am MT (11:30 am ET) to discuss its Q2 2025 results [5]