Petrus Resources Ltd. (PRQ) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, and thank you for standing by. Welcome to the Pitchers Resources year-end 2025 results conference call and webcast. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1-1 on your telephone. You will then hear an automated message if your hand is raised. To answer your question, please press star 1-1 again. Please advise that today's conference is being recorded. I'll now hand the conference over to your first speaker today, Ken Gray, President and CEO. Please go ahead. Good morning and welcome to the Petrus Resources Conference Call. I'm Ken Gray, CEO of Petrus. And as usual, I'm joined here by our executive team of Matthew Wong, CFO, Matt Scandrip, COO, and Lindsay Hatcher, VP Commercial and Corporate Developments. We've just released Petrus 2025 Q4 and year-end results, but that seems like ancient history given the recent world events and developments here at Petrus. I'm not going to say too much about 2025. It was a good year for us from an execution standpoint. We drilled 13 operated wells very efficiently, lowering our overall well cost and generating excellent productivity from the wells. We expanded our focus to include the oilier Belly River formation, where we drilled several wells that helped increase our liquids weighting. We added to our undeveloped land and continued to invest in our infrastructure. We held production flat, slightly increased cash flow, and continued to pay our high-yielding dividend. We achieved all this despite overall pricing being even weaker than in 2024, with falling oil prices and the LNG premium failing to materialize. These results point to the strength of Petrus, both th...