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Birchcliff Energy Ltd. Announces Strong Q1 2025 Results and Declares Q2 2025 Dividend
CALGARY, Alberta, May 14, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“ Birchcliff ...
About this update from Birchcliff Energy Ltd.
[{"type":"text","content":"Birchcliff Energy Ltd. Announces Strong Q1 2025 Results and Declares Q2 2025 Dividend \n\n\n\n CALGARY, Alberta, May 14, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“\n \n Birchcliff\n \n ” or the “\n \n Corporation\n \n ”) (TSX: BIR) is pleased to announce its Q1 2025 financial and operational results.\n \n\n Chris Carlsen, Birchcliff’s President and Chief Executive Officer, commented: “We are pleased to report strong operational and financial results for the first quarter of 2025, driven by our continued focus on operational excellence and our high-quality asset base. We successfully executed our Q1 capital program, drilling 14 wells and bringing 8 wells onstream, resulting in first quarter average production of 77,363 boe/d. We generated adjusted funds flow\n \n (\n \n\n 1\n \n\n )\n \n of $124.4 million in Q1 2025 (an 88% increase from Q1 2024), driven by increased production and a stronger average realized natural gas sales price, which benefitted from our natural gas market diversification, with approximately 78% of our natural gas volumes realizing U.S. pricing at the Dawn and NYMEX HH markets. We achieved free funds flow\n \n (1)\n \n of $12.6 million in the first quarter, notwithstanding that approximately 40%\n \n (\n \n\n 2\n \n\n )\n \n of our full-year capital budget was invested in Q1 2025 prior to spring break-up. With a substantial portion of our capital program behind us, we expect to generate significant free funds flow during the remainder of the year, which will be allocated primarily towards reducing our total debt\n \n (\n \n\n 3\n \n\n )\n \n by approximately 28% from year end 2024\n \n (\n \n\n 4\n \n\n )\n \n , after the payment of our base dividend. Our 2025 production guidance and capital program are unchanged and we remain focused on capital efficiency improvements, driving down our costs and strengthening our balance sheet.\n \n\n This year marks a significant milestone for Birchcliff as we celebrate our 20\n \n th\n \n anniversary. We extend our gratitude to our dedicated staff, our board of directors and our shareholders for their support over the years. Together, we look forward to a promising future, leveraging our strengths to navigate the evolving market, drive profitable growth and deliver long-term shareholder value.”\n \n\n\n Q1 2025 FINA...