LOGAN ENERGY CORP. ANNOUNCES A 31% INCREASE IN YEAR-END 2025 RESERVES
Executive Summary
- Logan Energy Corp. reports a 31 % increase in total proved‑plus‑probable (TPP) reserves to 139.2 MMBOE for year‑end 2025, driven by strong well performance and cost reductions.
- Net present value of TPP reserves (NPV10) rises 30 % to $983 million despite lower commodity price assumptions; PDP NPV10 jumps 63 % to $170 million.
- NAV per fully‑diluted share climbs to $1.37 for TPP (up 20 %) and $0.70 for TP (up 19 %).
Key Details
- Reserve Volumes (Dec 31 2025 vs. Dec 31 2024)
- PDP: 17.8 MMBOE ↑ 22 %
- Total Proved (TP): 80.3 MMBOE ↑ 28 %
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TPP: 139.2 MMBOE ↑ 31 %
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NPV10 of Reserves (before‑tax)
- PDP: $170 M ↑ 63 % (price deck impact –$67 M)
- TP: $532 M ↑ 35 % (price deck impact –$142 M)
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TPP: $983 M ↑ 30 % (price deck impact –$196 M)
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Net Asset Value (NAV) per Share
- TP NAV: $0.70 (↑ 19 %)
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TPP NAV: $1.37 (↑ 20 %)
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Drilling Inventory (net Montney locations)
- Total net Montney locations: 701
- Booked undeveloped locations – TP: 85.0, TPP: 123.3 net wells
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Additional booked Duvernay/other horizons: 18.4 net wells (TPP)
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Future Development Capital (undiscounted)
- TP: $995 M total; annual spend 2026‑2030 = $118‑$221 M per year, plus $19 M thereafter
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TPP: $1,459 M total; same annual pattern, $483 M thereafter
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Production & Growth Outlook
- McDaniel Report supports >30,000 BOE/d (39 % liquids) by 2029, excluding Flatrock contribution.
- Production replacement ratios: PDP 166 %, TP 469 %, TPP 798 %.
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Reserve Life Index (RLI): PDP 3.7×, TP 16.8×, TPP 29.1×.
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2029 Forecast Production (TPP)
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31,789 BOE/d = 116,298 mcf/d gas, 1,980 bbl/d NGLs, 86 bbl/d condensate, 10,340 bbl/d oil.
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Commodity Price Assumptions (3‑consultant average)
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WTI $68.12/bbl (5‑yr avg), Canadian Light Sweet $87.56/bbl, Henry Hub $3.86/MMBtu, AECO $3.23/GJ.
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Share Capital & Dilution
- Fully diluted shares outstanding: 680 M (Dec 31 2025).
- Outstanding warrants: 64.3 M @ $0.35 expiring July 12 2028.
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Outstanding stock options: 42.7 M @ $0.78, avg. term 3.4 yr.
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Management Contact
- Richard F. McHardy – CEO; Brendan Paton – President & COO.
Notable Quotes
(No direct quotes were provided in the release.)