Production Growth Achievement
Production for the quarter averaged just under 15,000 barrels of oil equivalent per day, which was at the top end of expectations, marking a 16% increase from the fourth quarter of 2024.
Successful Acquisition of Lucero
The acquisition of Lucero was highlighted as a key step forward, enhancing decision-making ability and control over capital spending, with assets performing as expected.
Hedging Strategy for Commodity Price Volatility
Approximately 61% of oil production and 30% of natural gas production for 2025 are hedged, mitigating the impact of commodity price volatility.
Low Leverage and Strong Financial Position
Ended the quarter with total debt of $117 million and a net debt to adjusted annualized EBITDA of 0.7 times, maintaining financial flexibility.