Business
Lotus Creek Exploration Inc. Announces Third Quarter 2025 Operating Results and Operational Update
Calgary, Alberta--(Newsfile Corp. - November 6, 2025) - Lotus Creek Exploration Inc. (TSXV: ...
About this update from Lotus Creek Exploration, Inc.
[{"type":"text","content":"Lotus Creek Exploration Inc. Announces Third Quarter 2025 Operating Results and Operational UpdateCalgary, Alberta--(Newsfile Corp. - November 6, 2025) - Lotus Creek Exploration Inc. (TSXV: LTC) (\"Lotus Creek\" or the \"Company\") is pleased to provide the following third quarter operating results and operational update to shareholders. Lotus Creek's Interim Consolidated Financial Statements and related Management's Discussion and Analysis (\"MD&A\") for the period ended September 30, 2025 are available for review on Lotus Creek's website at www.lotuscreek.ca and on Lotus Creek's SEDAR+ profile at www.sedarplus.ca. QUARTERLY HIGHLIGHTS During the third quarter of 2025, the Company drilled and completed 2.0 gross (2.0 net) light oil Belly River wells in Wilson Creek. Combined, the wells have averaged over 1,700 boe per day of estimated production for October 2025 (comprised of 83 per cent light oil and NGLs). In the emerging Belly River light oil play, these wells are two of the highest monthly production rates and two of the fastest drill time from spud to rig release averaging less than nine days.Production for the third quarter of 2025 was 1,425 boe per day comprised of 874 bbl per day of light oil, 201 bbl per day of NGLs and 2,100 mcf per day of natural gas. The Company's estimated production increased to over 2,900 boe per day for October 2025 (comprised of 81 per cent oil and NGLs).Consistent with previous shareholder communications, the addition of these new volumes has successfully doubled the Company's production base and reinforces the Company's fourth quarter average production guidance between 3,000 and 3,400 boe per day.Lotus Creek invested a total of $18.8 million of capital during the third quarter, which included the successful drilling activity in Wilson Creek, and the completion of a new 5,000 boe per day oil battery and gathering system. The Wilson Creek battery establishes certainty of oil egress to deliver profitable organic growth beyond 2025.As at September 30, 2025, the Company had a net debt of $6.5 million and a net debt to quarterly funds from operations of 0.8 times. Subsequent to period end, the Company amended its credit facilities with ATB Financial with an increase in the borrowing base to $40.0 million. The Company is expected to have ample liquidity through its credit facilities.Adjust...