Petrus Resources Announces Fourth Quarter and Year-End 2025 Financial, Operating & Reserves Results

Executive Summary

• Petrus Resources reported Q4 2025 funds flow of $13.5 M (up 8% YoY) and full‑year 2025 funds flow of $51.2 M (up 2%).
• Production increased to an average 9,568 boe/d in Q4 2025 (+6% YoY) and 9,371 boe/d for the year (flat YoY).
• Net debt fell to $62.5 M at year‑end 2025 (down $2.4 M vs. Sep 30 2025).
• The company disclosed 2025 year‑end reserves (PDP 19.0 mmboe) and a reserve replacement ratio of 1.4, with total proved‑plus‑probable value of $603 M (NPV 10%).
• 2026 capital program launched; acquisition of an oil‑weighted Cardium property adding ~2,000 boe/d, financed by equity and debt. Guidance: $50‑$60 M capex, net debt $75‑$80 M year‑end, production 11,000‑12,000 boe/d, funds flow $60‑$65 M.

Key Details

• Q4 2025 Highlights
• Funds flow: $13.5 M (↑8% YoY).
• Avg. production: 9,568 boe/d (↑6%). Oil & condensate ↑20%; NGLs ↑7%.
• Operating expense: $5.33/boe (↓10%).
• Net debt: $62.5 M at Dec 31 2025 (‑4% YoY).
• Realized price: $25.74/boe (‑3% YoY); natural gas $2.45/mcf (+52%), oil $72.49/bbl (‑23%).

• Capital spending: $10.2 M (63% on Ferrier drilling/completions).

• 2025 Annual Highlights

• Funds flow: $51.2 M (↑2%).
• Avg. production: 9,371 boe/d (≈budget range 9,000‑10,000).
• NGL production: 1,890 bbl/d (+16%).
• Capital expenditures: $49.0 M (up from $31.8 M in 2024); 73% on Ferrier drilling/completions.

• Dividends paid: $15.5 M; DRIP reinvested $10.9 M (7.6 M shares).

• Reserves (as of Dec 31 2025, Insite evaluation)

• Proved Developed Producing (PDP): 19.0 mmboe (34% oil & liquids).
• Total proved‑plus‑probable (P+P) reserves: 93.4 mmboe.
• NPV 10% values: PDP $191.5 M, total proved $407.1 M, P+P $603.1 M.

• Finding & Development cost for PDP: $9.94/boe.

• Future Development Cost (FDC) – Undiscounted

• 2026: $44.5 M (TP), $47.9 M (P+P).

• 2027‑2029 and thereafter totals $429.0 M (TP) / $667.2 M (P+P).

• 2026 Outlook & Capital Program

• Commenced late Dec 2025; drilling to continue into March, new production expected mid‑March.
• Acquisition of Cardium property (Harmattan area) adding ~2,000 boe/d; financed with equity + debt.
• Planned capex: $50‑$60 M; projected year‑end net debt $75‑$80 M.
• Production guidance: 11,000‑12,000 boe/d (mid‑point 11,500 boe/d).
• Funds flow guidance: $60‑$65 M.

• Hedging: ~50% of forecast production at $3.02/mcf natural gas and CAD$86.76/bbl oil.

• Conference Call & AGM

• Q4 2025 & FY 2025 conference call: March 19 2026, 9:00 a.m. MT.
• Annual General Meeting: May 21 2026.

Notable Quotes

• Ken Gray, President & CEO: “Our disciplined risk‑management strategy and the early start of our 2026 capital program position us to meet guidance targets while delivering sustainable returns to shareholders.”