Orca Exploration Group Class B ( (ORXGF) ) has released its Q1 earnings. Here is a breakdown of the information Orca Exploration Group Class B presented to its investors.
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Orca Energy Group Inc. is an international public company engaged in the development and supply of natural gas in Tanzania, primarily through its subsidiary, PanAfrican Energy Tanzania Limited (PAET). The company operates in the energy sector and is known for its involvement in the Songo Songo gas field offshore Tanzania.
In its Q1 2025 earnings report, Orca Energy Group Inc. highlighted a 2% increase in revenue compared to the same period last year, despite a 3% decrease in gas deliveries. The company faced challenges due to the shutdown of the Songas Power Plant and the commencement of the Julius Nyerere Hydropower Project, which affected gas demand.
Key financial metrics showed a significant decrease in net income attributable to shareholders by 89%, primarily due to higher depletion and administrative expenses. However, net cash flows from operating activities increased to $20.3 million, a notable improvement from the previous year’s negative cash flow. The company also reported a 63% reduction in capital expenditures, focusing on essential maintenance and flowline replacements.
Orca is navigating uncertainties surrounding the extension of its Songo Songo Development License, set to expire in October 2026. The company is actively engaging with Tanzanian authorities to address these issues, while also managing disputes related to contractual agreements with the government and other stakeholders.
Looking ahead, Orca Energy Group remains committed to maintaining shareholder value and capital returns, while closely monitoring the commercial environment and ongoing negotiations with Tanzanian authorities to secure a favorable extension of its operating license.