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Birchcliff Energy Ltd. Announces Updated 2025 Guidance, Elmworth Well Test Results and the Filing of Its Audited Financial Statements and Other Disclosure Documents for the Year Ended December 31, 2024
CALGARY, Alberta, March 12, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“ Birchclif...
About this update from Birchcliff Energy Ltd.
[{"type":"text","content":"Birchcliff Energy Ltd. Announces Updated 2025 Guidance, Elmworth Well Test Results and the Filing of Its Audited Financial Statements and Other Disclosure Documents for the Year Ended December 31, 2024 \n\n\n\n CALGARY, Alberta, March 12, 2025 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“\n \n Birchcliff\n \n ” or the “\n \n Corporation\n \n ”) (TSX: BIR) is pleased to announce that it has filed its annual audited financial statements (the “\n \n financial statements\n \n ”) and related management’s discussion and analysis and its annual information form (the “\n \n AIF\n \n ”) for the financial year ended December 31, 2024 (collectively, the “\n \n Annual Filings\n \n ”). Birchcliff is also pleased to announce updated guidance for 2025 and provide an operational update with respect to its 2025 capital program.\n \n\n Chris Carlsen, Birchcliff’s President and Chief Executive Officer, commented: “Our 2024 results showcase the efforts of our team to deliver strong results through our commitment to improving capital efficiencies and reducing costs. Looking forward, our 2025 production and capital expenditures guidance is on target and, due to ongoing strengthening of natural gas prices, in particular at NYMEX HH and Dawn, where we have the majority of our natural gas sales exposure, our 2025 annual adjusted funds flow outlook has improved significantly. As a result, we have updated our 2025 guidance to reflect the improved natural gas commodity price environment, with anticipated 2025 annual adjusted funds flow\n \n (\n \n\n 1\n \n\n )\n \n of $580 million, free funds flow\n \n (1)\n \n of $280 million to $320 million and total debt\n \n (\n \n\n 2\n \n\n )\n \n at year end 2025 of $265 million to $305 million.\n \n\n We are also excited to announce that in February 2025, Birchcliff completed a horizontal land retention well in Elmworth that was drilled in Q3 2024 to continue a number of sections of Montney lands in the area. We completed a 10.5 day flow test on the well, with a stabilized raw natural gas rate of 17 MMcf/d over the final three days. The results of this test further support our long-term growth plans for our Elmworth asset, which provides us with significant future drilling inventory and growth potential, and we are continuing...