Birchcliff Energy Ltd. Announces Unaudited 2025 Full-Year and Fourth Quarter Results, 2025 Reserves Highlights and Appointment of Chris Carlsen to the Board of Directors

Executive Summary

• Birchcliff posted record production of 80,086 boe/d in 2025 (↑4% YoY) and $422.8 M adjusted funds flow (↑79% YoY), reducing total debt 14% to $459.9 M.
• PDP reserves grew to 218 MMboe with a low F&D cost of $10.15/boe and a recycle ratio of 1.4×, while net asset value per share reached $6.72 (PDP) – $18.13 (proved + probable).
• Chris Carlsen was appointed to the board; the company outlined 2026 growth plans, including continued production expansion and dividend sustainability.

Key Details

• Production: Avg 2025 = 80,086 boe/d (82% gas, 18% liquids); Q4 2025 = 83,028 boe/d (↑7% YoY).
• Financials: Adjusted funds flow $422.8 M ($1.55/share), free funds flow $116.9 M ($0.43/share); cash flow from operations $407.7 M (+100% YoY). Net income $64.9 M ($0.24/share) (+16%).
• Debt: Total debt $459.9 M (‑14% YoY); debt‑to‑adjusted funds flow ratio 1.1× (down from 2.3×).
• Reserves: PDP reserves 218 MMboe; total proved + probable 946 MMboe. Added 30.1 MMboe PDP on an F&D basis after adding back production. Reserves life index 7.2 yr (PDP).
• F&D Costs & Recycle: All‑in PDP F&D cost $10.15/boe (12% improvement); recycle ratio 1.4× (40% improvement).
• Net Asset Value per Share: $6.72 (PDP), $13.83 (proved), $18.13 (proved + probable).
• Future Development Costs (FDC): 2026‑2030 total undiscounted FDC ≈ $3.16 B (proved) and $4.65 B (proved + probable).
• Capital Expenditures: 2025 F&D capex $305.9 M (within guidance $290–$300 M); FD&A capex $306.2 M.
• Operational Update – Early 2026: 6‑well pad in Pouce Coupe on production; 4‑well pad completed Jan 2026, expected Q1 2026; drilling of 6‑well pad slated for Q2 2026. Elmworth land‑retention well drilled Jan 2026 (short flow test).
• Director Appointment: Chris Carlsen (President & CEO) appointed to the Board effective Feb 11 2026.

Notable Quotes

• “2025 was an excellent year for Birchcliff… we grew our annual average production by 4% to 80,086 boe/d … and reduced our per‑unit operating costs by 11% to $2.88/boe.” – Chris Carlsen, President & CEO
• “We are excited to have Chris Carlsen join the Board… his strategic vision will further enhance Board deliberations and drive additional value for Birchcliff.” – Jeff Tonken, Chairman of the Board