Production and Cost Efficiency
Q3 production averaged over 41,100 barrels a day, exceeding previous guidance and analyst consensus. BOE operating cost in Q3 came in at $19.24, below the $20 per BOE annual target.
Strategic Tuck-in Acquisitions
Completed two tuck-in acquisitions: one in Southeast Saskatchewan adding 4,100 BOE/day for $63 million and another in Central Alberta adding 1,300 BOE/day for $22 million. These acquisitions were strategic for capital efficiency and asset optimization.
Shareholder Returns
From August 2024 to present, nearly 16 million shares were bought back, returning approximately $36 million to shareholders. Production per share increased by 22% over a similar timeframe.
Strong Financial Performance
Produced revenue over $235 million and adjusted funds flow of $103 million, a 17% increase per share compared to the third quarter of 2024.
Technological Advancements in Drilling
Successfully drilled the fastest extended reach horizontal Cardium well on record, achieving well completion in only 4.8 days.