PrairieSky Royalty Ltd. (PSK) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.723 -- 00:00:05.888 Good day and welcome to Prairie Sky Realty Limited announced the first quarter 2020 00:00:05.888 -- 00:00:10.854 cloud financial results. At this time, all participants are on listen-only mode. 00:00:10.854 -- 00:00:14.558 After the speaker's presentation, there will be a question and answer session. 00:00:14.558 -- 00:00:19.463 Instructions will be given at that time. As a reminder, this call may be recorded. 00:00:19.463 -- 00:00:23.026 I would like to turn the call over to Andrew Phillips, President and CEO. 00:00:23.026 -- 00:00:24.828 Please go ahead. 00:00:24.828 -- 00:00:27.471 Thank you, Michelle, and good morning, everyone, and thank you for dialing in to the 00:00:27.471 -- 00:00:32.739 Prairie Sky Q1 2025 conference call. On the call from Prairie Sky 00:00:32.739 -- 00:00:37.727 are Pam Cazell, Dan Bertram, Mike Murphy, and myself, Andrew Phillips. 00:00:37.727 -- 00:00:41.652 Before we begin, there's certain forward-looking information and statements in our commentary 00:00:41.652 -- 00:00:45.798 today, so I'd ask listeners and investors to review the forward-looking statements qualifier 00:00:45.798 -- 00:00:50.442 in our press release in MD&A, which can be found on our website. 00:00:51.186 -- 00:00:55.011 Prairie Sky achieved record oil volumes of 13,502 00:00:55.011 -- 00:00:59.532 barrels per day of net royalty production in the first quarter of 2025. 00:00:59.532 -- 00:01:04.537 Over 200 wells were spud in Q1, an increase of 26 wells from the same period 00:01:04.537 -- 00:01:09.902 in 2024. The average royalty rate on these new wells was 6.9% versus 6% 00:01:09.902 -- 00:01:12.343 last year. 52 00:01:12.345 -- 00:01:17.070 new leases with 39 counterparties were signed, generating $5 million in lease issuance 00:0...