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Petrus Resources increases quarterly production and reduces net debt

Petrus Resources recorded a 7% increase in production in the third quarter of 2025, along with a reduction in net debt and a 21% rise in cash flow.

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Petrus Resources Ltd. reported an average production of 9,817 barrels of oil equivalent per day (boe/d) for the third quarter of 2025, up 7% from the previous quarter. This performance was driven by the commissioning of six new wells in the Ferrier area, despite a scheduled turnaround at the local plant. The company noted that revenue was not materially impacted by the shutdown due to low natural gas prices during the period.

Cash flow supported by risk management

Cash flow reached CAD12.9mn ($9.4mn), representing a 21% increase compared to the same period in 2024. The improvement was attributed to higher production volumes, realised gains on financial hedging instruments, and lower royalty expenses, despite a 9% decrease in overall realised prices, which stood at CAD21.90 ($15.98) per boe.

The company also reported a 5% decrease in net debt, which stood at CAD64.9mn ($47.4mn). Capital expenditures amounted to CAD8.3mn ($6mn) during the period, with 81% allocated to drilling and well tie-ins in the Ferrier area. Operating expenses fell by 4% to CAD5.86 ($4.27) per boe.

Dividends and full-year budget planning

During the quarter, Petrus Resources paid CAD3.9mn ($2.85mn) in monthly dividends, of which CAD2.8mn ($2mn) were reinvested by shareholders through the Dividend Reinvestment Plan, resulting in the issuance of 1.8 million new common shares.

The company expects to maintain its annual capital investment within the CAD40mn to CAD50mn ($29.2mn to $36.5mn) range, while keeping net debt around CAD60mn ($43.8mn), in line with its guidance. Drilling activities resumed in October, with two new wells expected to come online in the fourth quarter of 2025.

Positioning for 2026 through price hedging

For 2026, approximately 50% of forecasted production is hedged at an average price of CAD2.89/GJ for natural gas and CAD87.23/bbl for oil. This strategy aims to maintain financial stability and meet production targets, which are expected between 9,000 and 10,000 boe/d, with cash flow projected between CAD45mn and CAD55mn ($32.9mn to $40.2mn).

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