Production Increase
Production increased by 10% quarter-over-quarter to 33,500 barrels of oil equivalent per day, within guidance range.
EBITDA Growth
Adjusted EBITDA grew by 9% to $35 million compared to the first quarter of 2025.
Debt Reduction
Net debt was reduced by about $15 million to under $230 million, with total debt at $350 million.
Cash and Liquidity Enhancement
Unrestricted cash increased to over $120 million, and liquidity increased to $171 million.
Hedging Success
Implemented costless collars for oil and natural gas, locking in favorable price ranges for 2025.
Positive Reserve Revisions
Net positive revisions of 1.8 million barrels of oil equivalent in 2025 midyear reserve report.
Resolved Surety Issues
Settled disputes with major surety providers, improving financial stability.
Favorable Policy Environment
Expectations of reduced regulatory burdens and lower royalties under current administration.