Freehold Royalties Ltd. (FRU) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

This conference is being recorded. This conference is being recorded. All participants please stand by. Your meeting is now ready to begin. Good morning ladies and gentlemen and welcome to the Q2 results conference call. I would now like to turn the meeting over to Mr. David Spiker. Please go ahead. Good morning everyone and thank you for joining us today. On the call with me from Freehold are Rob King, our COO, Shana Morihara, our CFO, and Todd McBride, our manager of IR. Shana joined our team as CFO in June of this year and we look forward to working together and having the opportunity to introduce her to you, our shareholders, over the coming months. So we've delivered a strong second quarter reflecting the resiliency of our North American portfolio. Despite the uncertainty and caution associated with the constant headlines that are driving volatility in both markets and commodity prices. During the quarter we achieved production of 16,584 BW a day with a liquid weighting of 67%. Both new high watermarks for Freehold as we continue to build and evolve our portfolio. This 9% production growth from the second quarter of last year reflects our strategic acquisitions over the past 12 months which have expanded and strengthened our US positioning, particularly in the Permian Basin. As in Canada, operators in the US continue to drive higher production levels while minimizing rig time and associated costs. During the quarter we had several prolific wells come online producing at rates double that of the performance of the historical offsetting wells. These high productivity wells were key contributors to the production levels achieved this quarter and a reminder of the ongoing advancements in well drilling and completion strategies. Despite there being over 100,000 horiz...