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Valeura Energy Inc. Announces First Quarter 2025 Results
CALGARY, AB / ACCESS Newswire / May 14, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) ("Va...
About this update from Valeura Energy Inc.
[{"type":"text","content":"Valeura Energy Inc. Announces First Quarter 2025 ResultsCALGARY, AB / ACCESS Newswire / May 14, 2025 / Valeura Energy Inc. (TSX:VLE)(OTCQX:VLERF) (\"Valeura\" or the \"Company\") reports its unaudited financial and operating results for the three month period ended March 31, 2025.The complete quarterly reporting package for the Company, including the unaudited financial statements and associated management's discussion and analysis (\"MD&A\") are being filed on SEDAR+ at www.sedarplus.ca and posted to the Company's website at www.valeuraenergy.com.HighlightsOil production of 23,853 bbls/d(1), an increase of 9% compared to Q1 last year;Adjusted opex(2) trending downward, to US$24.1/bbl, a decrease of 8% compared to Q1 last year;Adjusted Cashflow from Operations(2) of US$74.0 million, an increase of 55% compared to Q1 2024, demonstrating the effects of the corporate restructuring and application of tax loss carry-forwards;The Company's balance sheet remains very strong, with US$239 million cash(3) and no debt; andAdjusted Working Capital(2) of US$254 million.(1) Working interest share production before royalties.(2) Non-IFRS financial measure or non-IFRS ratio - see \"Non-IFRS Financial Measures and Ratios\" section below.(3) Includes restricted cash of US$23.4 million.Dr. Sean Guest, President and CEO commented:\"We have demonstrated our ability to generate increasing cash flow. Q1 2025 was the first full quarter benefitting from our corporate re-organisation, which makes it possible to optimise the use of tax loss carry-forwards. As a result, our post-tax Adjusted Cashflow from Operations(1)increased to US$74 million, up 55% compared to the same quarter of last year, on revenue that is essentially unchanged. This creates a uniquely resilient position for our Company, which makes it possible for us to weather volatile markets better than many of our competitors.Underlying this is a respectable operational performance which saw us produce at an average rate of 23,854 bbls/d, while recording Adjusted Opex per barrel(1)of US$24/bbl. The long-term downward trend in Adjusted Opex per barrel(1)is a direct reflection of our strategic priorities in action - operating our assets in a worldclass manner with the objective of driving deeper efficiency and maximising cash flow and growth from our assetsOur balance sheet echoes this sentim...