Core Insights - Tuktu Resources Ltd. reported significant growth in petroleum and natural gas sales for Q2 2025, with a 291% increase to $2.44 million compared to Q2 2024, and a 396% increase to $5.71 million for the first half of 2025 compared to the same period in 2024 [2][10] - The company continues to advance its light oil play in the Alberta Deep Basin, with a discovery well producing approximately 200 bbl/d of oil and a total of 97,000 bbl produced since its inception [6][7] - An incremental capital budget of $1.0 million has been approved for 2025, focusing on optimizing the Penny light oil asset and includes a four-well optimization program [8] Financial Highlights - Petroleum and natural gas sales for Q2 2025 reached $2,438,608, a 291% increase from $623,872 in Q2 2024 [2] - Cash flow from operating activities improved significantly, with a loss of $429,622 in Q2 2025 compared to a loss of $1,943,319 in Q2 2024, marking a 78% improvement [2] - Net loss decreased by 93% in Q2 2025 to $71,370 from $992,419 in Q2 2024 [2] Operating Highlights - Average production volumes increased by 55% to 622 boe/d in Q2 2025, with crude oil production rising by 593% to 298 bbl/d [2][10] - The average realized price for crude oil was $78.23/bbl, down 20% from $97.85/bbl in Q2 2024, while natural gas prices increased by 46% to $1.79/mcf [2][10] - Operating netback improved significantly to $9.66/boe from ($3.63)/boe in Q2 2024, reflecting enhanced operational performance [4][10] Operations Update - The company is focusing on targeting fracture systems in its drilling strategy, leveraging management's expertise in carbonate reservoirs [8] - The offset horizontal well drilled in Q1 2025 is producing at lower than expected rates, averaging 10 bbl/d, indicating the importance of fracture location in production performance [7] - Tuktu's operations generated adjusted funds flow used in operations of $81,126 in Q2 2025, a significant improvement from $1,738,903 in Q2 2024 [2][10]

CALGARY, ALBERTA--(Newsfile Corp. - August 6, 2025) - Tenaz Energy Corp. ("Tenaz", "We", "Our", "Us" or the "Company") (TSX: TNZ) is pleased to announce financial and operating results for the three and six months ended June 30, 2025. The unaudited interim condensed consolidated financial statements and related management's discussion and analysis ("MD&A") are available on SEDAR+ at www.sedarplus.ca and on Tenaz's website at www.tenazenergy.com. Select financial and operating information for the three and s ...

Cardinal Energy Ltd. Announces Second Quarter 2025 Operating and Financial Results July 30, 2025 6:01 PM EDT | Source: Cardinal Energy Ltd. Calgary, Alberta--(Newsfile Corp. - July 30, 2025) - Cardinal Energy Ltd. (TSX: CJ) ("Cardinal" or the "Company") is pleased to announce its operating and financial results for the second quarter ended June 30, 2025. FINANCIAL AND OPERATING HIGHLIGHTS FROM THE SECOND QUARTER OF 2025 (1) See non-GAAP and other financial measures. The following table summarizes our second ...

Core Viewpoint - Vermilion Energy Inc. reported its Q1 2025 operating and financial results, highlighting strong performance driven by the Westbrick acquisition and robust European gas prices, while maintaining a focus on free cash flow and debt reduction. Financial Performance - Fund flows from operations (FFO) for Q1 2025 were $256 million ($1.66 per basic share), a slight decrease from $263 million ($1.70 per basic share) in Q4 2024 [4][21] - Exploration and development (E&D) capital expenditures totaled $182 million, resulting in free cash flow (FCF) of $74 million, up from $62 million in the prior quarter [4][21] - Net debt increased to $2,063 million, with a net debt to trailing FFO ratio of 1.7 times [4][21] Production and Operations - Average production for Q1 2025 was 103,115 boe/d, a 23% increase from the previous quarter, primarily due to the Westbrick acquisition [22][4] - Production from North American assets averaged 73,760 boe/d, a 41% increase, while international production averaged 29,355 boe/d, a 6% decrease [22][4] - The company successfully tested the Wisselshorst deep gas exploration well in Germany, achieving a combined test flow rate of 41 mmcf/d [4][26] Strategic Acquisitions and Synergies - The Westbrick acquisition added approximately 50,000 boe/d of liquids-rich gas and identified operational synergies of about $100 million on a net present value (NPV10) basis [4][25] - The integration of Westbrick assets is progressing ahead of schedule, with ongoing identification of additional synergies [19][4] Market Position and Outlook - Vermilion's capital budget and guidance for 2025 remain unchanged, focusing on free cash flow and debt reduction while returning capital to shareholders [9][33] - The company anticipates Q2 2025 production to average between 134,000 to 136,000 boe/d, including full contributions from Westbrick assets [9][31] - Over 50% of net-of-royalty production is hedged for the remainder of 2025, providing stability amid market volatility [20][35]

Core Viewpoint - NuVista Energy Ltd. reported record-setting reserves and strong financial and operational results for the year ended December 31, 2024, highlighting significant growth in reserves and a commitment to shareholder returns as the company aims for continued production growth towards 125,000 Boe/d in 2025 [1]. Operational and Financial Highlights - Average production in Q4 2024 was 85,635 Boe/d, exceeding guidance of 83,000 – 84,000 Boe/d, with an annual average production of 83,084 Boe/d, an 8% increase from 2023 [4]. - The company executed a capital expenditure program of $498.9 million, including drilling 43 wells and completing 38 wells throughout the year [4]. - Annual adjusted funds flow was $552.2 million ($2.68/share), with Q4 contributing $137.1 million ($0.67/share) [4]. - Free adjusted funds flow for the year was $39.6 million ($0.19/share) [4]. - The company repurchased 5.9 million common shares at an average price of $12.52 per share, totaling $74.4 million, and has repurchased 36.5 million shares since 2022 [4]. - As of December 31, 2024, net debt was $232.5 million, with a favorable net debt to annualized fourth quarter adjusted funds flow ratio of 0.4x [4][8]. Reserves Growth - Reported Proved Developed Producing (PDP) reserves increased by 9% year-over-year to 177.3 MMBoe, with Total Proved plus Probable (TP+PA) reserves rising by 21% to 779.7 MMBoe [9]. - The company replaced 150% of 2024 production on a PDP basis and 550% on a TP+PA basis, reflecting the success of its capital program [9]. - PDP Finding, Development and Acquisition Cost (FD&A) was $11.13/Boe, with a PDP recycle ratio of 1.8x based on the 2024 operating netback [9]. 2025 Guidance and Operations - The company forecasts Q1 2025 production to average 87,000 – 88,000 Boe/d, with annual production expected to average approximately 92,000 Boe/d, assuming the Pipestone Plant starts up in Q2 [13]. - Annual capital expenditure guidance for 2025 is approximately $450 million, with a minimum of $100 million allocated for share repurchases [14][7]. - The company plans to continue its disciplined growth strategy while maintaining a strong balance sheet and low debt levels [15].