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Financings

Coelacanth Energy Inc. Announces Increased Bank Credit Facility and Provides Operations Update

By The Northwire Desk — AI Analysis Oct 30, 2025 · 06:01 CEI · 0.79 Coelacanth Energy Inc.
CEI · Price

Executive Summary

  • Coelacanth Energy Inc. increased its bank credit facility from $52 M to $80 M, with closing expected mid‑November 2025.
  • The company is drilling three additional wells on the 5‑19 Pad (Lower Montney) and expects first production in early February 2026; total field production is projected to exceed 10,000 boe/d by Feb 2026.
  • Hedging contracts were placed for natural gas (25,000 gj/d total) and light oil (500 bbls/d) covering the Nov 2025‑Mar 2026 period.

Key Details

  • Bank Credit Facility
  • Existing facility: $52 M → New facility: $80 M.
  • Net bank debt as of Sep 30 2025 estimated at $43 M.

  • Additional liquidity to fund the fall drilling program.

  • Drilling & Production Outlook

  • Current activity: 3 new wells being drilled on the Lower Montney, 5‑19 Pad (Two Rivers East).
  • Expected completions: Late November 2025; on‑stream early Feb 2026.
  • Recent test results from last three wells (F5‑19, G5‑19, H5‑19) averaged 4,872 boe/d (60% light oil).
  • Current production: 4 of 9 wells + legacy Two Rivers West ≈ 4,400 boe/d (40% light oil).

  • Remaining 5 wells slated for sequential start mid‑Nov–year‑end; projected year‑end production ≈8,400 boe/d, rising to >10,000 boe/d in Feb 2026.

  • Hedge Position | Product | Quantity (gj/d or bbls/d) | Price (CAD) | Reference | Period | |---------|---------------------------|-------------|-----------|--------| | Natural Gas | 10,000 gj/d | 2.03 | Station 2 | Nov‑Dec 2025 | | Natural Gas | 5,000 gj/d | 2.10 | Station 2 | Dec 2025 | | Natural Gas | 10,000 gj/d | 2.49 | Station 2 | Jan‑Mar 2026 | | Light Oil | 500 bbls/d | 86.86 | WTI | Nov 2025‑Apr 2026 |

  • Test Results (selected wells)

  • 5‑19 Lower Montney: 377 bbl/d oil, 2,202 mcf/d gas (9.4 days).
  • A5‑19 Basal Montney: 117 bbl/d oil, 630 mcf/d gas (5.9 days).
  • B5‑19 Upper Montney: 92 bbl/d oil, 2,100 mcf/d gas (6.3 days).
  • C5‑19 Lower Montney: 736 bbl/d oil, 2,660 mcf/d gas (5.8 days).
  • D5‑19 Lower Montney (IP30): 1,037 boe/d sales basis (546 bbl oil, 2,659 mcf gas, 48 bbl NGL).
  • E5‑19 Lower Montney (IP30): 1,346 boe/d sales basis (854 bbl oil, 2,660 mcf gas, 49 bbl NGL).

  • F5‑19 Lower Montney (IP22): 1,037 boe/d sales basis (745 bbl oil, 3,121 mcf gas, 58 bbl NGL).

  • Business Plan

  • Targeting development of four potential Montney benches on a contiguous 150‑section land package at Two Rivers, NE British Columbia.

Notable Quotes

“Coelacanth is pleased with the results to date and the progression of the business plan.” – Robert J. Zakresky, President & CEO

All forward‑looking statements are subject to risks and uncertainties detailed in the release.

Read the original news release →

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