Record 30-Day Peak Oil Rates in Pembina Duvernay
Achieved highest 30-day peak oil rates in the West Shale Basin, demonstrating exceptional resource potential and technical advances.
Heavy Oil Production Increase
Heavy oil production grew by 7% quarter-over-quarter, exhibiting strong operational performance.
Strong Financial Results
Adjusted funds flow was $367 million, net income was $152 million, and $21 million was returned to shareholders through share repurchases and dividends.
Debt Reduction and Financial Flexibility
Net debt decreased by $96 million to $2.3 billion. USD 41 million of long-term notes were repurchased, with ample credit facility capacity remaining.
Cost Efficiency Improvements
Achieved 12% improvement in drilling and completion costs in Duvernay and 11% in Eagle Ford, enhancing well economics and capital efficiency.
Successful Refrac Program in Eagle Ford
Two successful refracs were delivered at half the cost of new wells, with 300 refrac opportunities identified.