04:40 PM EST, 11/12/2025 (MT Newswires) -- Birchcliff Energy ( BIREF ) , after trade Wednesday, reported a wider third-quarter loss and higher petroleum and natural gas revenue.

The oil and gas producer lost $14.1 million, or $0.05 per share, in the quarter, compared with a loss of $10.5 million, or $0.04, a year ago. FactSet expected earnings per share of $0.02.

"The increase in net loss was primarily due to an unrealized loss on the corporation's financial NYMEX HH/AECO 7A basis swap contracts of $34.6 million in Q3 2025 as compared to an unrealized gain of $7.9 million in Q3 2024, partially offset by higher adjusted funds flow," the company said.

Petroleum and natural gas revenue rose to $149.6 million from $122.8 million in the year-ago quarter. FactSet projected sales of $155.8 million.

The company said it is raising its full-year 2025 production forecast to 79,000 to 80,000 barrels of oil equivalent per day (boe/d), up from the previous estimate of 76,000 to 79,000 boe/d, and fourth-quarter production is expected to average about 81,500 boe/d.

Birchcliff also said that, based on its preliminary budgeting process for 2026, the company is currently targeting an Finding and Development capital budget of $325 million to $375 million for 2026. This investment is expected to result in average annual production of 81,000 to 84,000 boe/d, representing production growth of about 2% to 6% compared to 2025.

The company also declared a quarterly cash dividend of $0.03 per share, payable Dec. 31 to shareholders of record at the close of business on Dec. 15.

Birchcliff shares closed up $0.02 to $6.92 on the Toronto Stock Exchange.