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Earnings

LOGAN ENERGY CORP. ANNOUNCES THIRD QUARTER 2025 RESULTS AND OPERATIONS UPDATE

By The Northwire Desk — AI Analysis Nov 12, 2025 · 17:23 LGN · 0.87 Logan Energy Corp.
LGN · Price

Executive Summary

  • Logan Energy reported record Q3 2025 average production of 15,046 BOE/d (43% liquids), a 51% increase versus Q3 2024.
  • Adjusted Funds Flow reached a corporate record $31.2 M for the quarter (up 77% YoY) and $0.05 per share basic.
  • Net income rose 46% YoY to $9.19 M; oil & gas sales increased 56% YoY to C$47.8 M.
  • The company completed its 2025 drilling program (18 wells, 16 net) and closed a non‑core asset disposition for C$0.4 M, eliminating $4.7 M of decommissioning obligations.

Key Details

  • Production & Operations
  • Q3 average production: 15,046 BOE/d (5,147 bbl/d crude, 252 bbl/d condensate, 1,065 bbl/d NGLs, 51,490 mcf/d gas).
  • Completed 4‑well pad at Pouce Coupe, 2‑well pad at Simonette, and an evaluation well at Ante Creek (Duvernay) with initial oil rate ~150 bbl/d.

  • Capital cost reductions: drilling/completion costs ≈11% lower in Pouce Coupe and 20% lower in Simonette vs prior campaign.

  • Financial Highlights (Quarter)

  • Oil & gas sales: C$47,766 k (+56% YoY).
  • Net income: C$9,190 k (+46% YoY).
  • Adjusted Funds Flow: C$31,179 k (+77% YoY); $0.05 per basic share.
  • Operating Netback after hedging: $25.64/BOE (up 20% YoY).

  • Capital expenditures before A&D: C$25.2 M (down 20% QoQ).

  • Balance Sheet

  • Net Debt: C$101.7 M (0.8× annualized Adjusted Funds Flow).

  • Revolving credit facility syndicated at $150 M; borrowing base unchanged, term extended to May 31 2026.

  • Disposition

  • Sold non‑core assets in NE BC for cash proceeds of C$0.4 M (post‑adjustments).

  • Assets produced ~250 BOE/d at a loss; decommissioning obligations of $4.7 M extinguished.

  • Guidance Outlook

  • Full‑year 2025 production now expected to be ~5% below guidance of 13,650 BOE/d due to temporary facility constraints and well performance issues.

  • Current interim production (Oct 1–Nov 11) ≈15,700 BOE/d.

  • Upcoming Activities

  • First well at Flatrock slated for spudding in November 2025.

Notable Quotes

(Not included as no direct quotes were provided in the release.)

Read the original news release →

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