FIDDLEHEAD RESOURCES CORP. ANNOUNCES Q1 2025 FINANCIAL RESULTS
- Achieved average corporate production of 1,636 boe/d compared to average corporate production in Q4/24 of 1,624 boe/d.
- First quarter of 2025, Fiddlehead's petroleum and natural gas sales totaled
$3,975,870 and Funds Flow used in Operations was$194,854 .
Readers are encouraged to read the 2025 Q1 Documents in their entirety, which are available on SEDAR+ at www.sedarplus.ca and on Fiddlehead's website at www.fiddleheadresources.com.
The table below summarizes selected highlights from the Company's financial and operating results:
(Expressed in $000s except per share, price and volume amounts.)
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Three months ended |
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2025 |
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2024 |
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2024 |
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OPERATING HIGHLIGHTS AND NETBACKS1 |
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Average production and sales volumes |
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Light oil (bbls/d) |
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119 |
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134 |
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- |
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NGLs (bbls/d) |
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394 |
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378 |
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- |
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Natural gas (Mcf/d) |
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6,746 |
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6,675 |
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- |
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Total (BOE/d) |
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1,636 |
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1,624 |
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- |
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Average realized sales prices |
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Light oil ($/bbl) |
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91.79 |
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91.72 |
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- |
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NGLs ($/bbl) |
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49.32 |
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55.39 |
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- |
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Natural gas ($/Mcf) |
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2.06 |
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1.28 |
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- |
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Total oil equivalent ($/BOE) |
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27.13 |
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25.86 |
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- |
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Netbacks ($/BOE)1 |
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Petroleum and natural gas sales |
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27.13 |
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25.86 |
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- |
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Royalties |
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6.65 |
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6.67 |
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- |
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Operating expenses |
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11.65 |
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11.25 |
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- |
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Transportation expenses |
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0.10 |
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0.09 |
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- |
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Operating Netback1 |
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8.74 |
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7.84 |
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- |
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General and administrative expenses |
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7.62 |
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8.86 |
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- |
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Finance costs |
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6.27 |
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4.98 |
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- |
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Adjusted Funds Flow Netback1,2 |
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(5.15) |
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(6.10) |
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- |
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FINANCIAL HIGHLIGHTS |
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Petroleum and natural gas sales |
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3,976 |
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3,844 |
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- |
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Petroleum and natural gas sales, net of royalties |
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2,996 |
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2,846 |
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- |
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Net loss & comprehensive loss |
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(2,497) |
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(2,295) |
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(138) |
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Basic per share |
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(0.04) |
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(0.04) |
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(0.03) |
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Diluted per share |
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(0.04) |
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(0.04) |
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(0.03) |
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Cash flow used in operating activities |
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(145) |
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(812) |
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(146) |
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Funds Flow from Operations2 |
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(195) |
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(74) |
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(127) |
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Basic per share |
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(0.00) |
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(0.00) |
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(0.02) |
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Diluted per share |
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(0.00) |
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(0.00) |
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(0.02) |
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Acquisitions |
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- |
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- |
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- |
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Total assets |
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30,054 |
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31,714 |
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245 |
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Total non-current financial liabilities |
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11,482 |
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11,666 |
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- |
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Total long-term debt, including current portion |
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12,120 |
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12,168 |
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- |
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Shareholders' equity |
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3,412 |
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5,909 |
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229 |
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Weighted average common shares outstanding (000s) – basic3 |
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60,521 |
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60,521 |
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5,276 |
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Weighted average common shares outstanding (000s) – diluted3 |
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60,521 |
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60,521 |
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5,276 |
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Common shares outstanding (000s), end of period4 |
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60,521 |
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60,521 |
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5,276 |
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1 |
"Netbacks" are non-GAAP financial measure calculated per unit of production. "Operating Netback", and "Adjusted Funds Flow Netback" do not have standardized meanings under IFRS Accounting Standards. See " Non-GAAP Financial Measures " section |
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2 |
"Funds Flow from Operations" ("FFO") does not have a standardized meaning under IFRS Accounting Standards. See "Non-GAAP Financial Measures". |
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3 |
Common shares outstanding have been adjusted as a result of the Share Consolidation. |
READER ADVISORIES
In this press release, all references to "$" are to Canadian dollars.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the
SOURCE
