04:34 PM EDT, 05/14/2025 (MT Newswires) -- Birchcliff Energy ( BIREF ) after trade Wednesday reported better than expected first-quarter earnings, boosted by higher production and improved prices.

The Western Canadian oil and gas producer said it earned $65.7 million, or $0.24 per share, in the the period, swinging from a year-prior loss of $15.0 million, or $0.06. The result beat the consensus FactSet forecast for a profit of $0.20 per share.

Birchcliff produced 77,363 barrels of oil equivalent per day in the quarter, a rise of 3% from the prior year, while its average price per barrel equivalent rose 19% to $28.32. It also generated adjusted funds flow of $124.4 million, or $0.46, an 88% and 84% lift, respectively. Cash flow from operating activities rose 93% to $126.1 million.

"With a substantial portion of our capital program behind us, we expect to generate significant free funds flow during the remainder of the year, which will be allocated primarily towards reducing our total debt by approximately 28% from year end 2024, after the payment of our base dividend. Our 2025 production guidance and capital program are unchanged and we remain focused on capital efficiency improvements, driving down our costs and strengthening our balance sheet," chief executive Chris Carlsen said.

Birchcliff shares closed down $0.08, or 1.2%, to $6.47 on the Toronto Stock Exchange.