Strong Operational Execution
Achieved or exceeded operational goals despite commodity price volatility. Total sales were 20,789 barrels of oil equivalent per day, above guidance midpoint.
Cost Management Success
Lifting costs reduced to $10.73 per BOE, below the low end of guidance range for the second consecutive quarter.
Debt Reduction Achievements
Reduced debt by $20 million, exceeding guidance by $2 million. Achieved a leverage ratio of 2.1x.
Adjusted Free Cash Flow Generation
Generated $13.9 million in adjusted free cash flow, enabling debt reduction.
Improved Oil Price Realization
Realized oil prices increased by 3% to $64.32.