08:06 AM EDT, 05/15/2025 (MT Newswires) -- Bonterra Energy ( BNEFF ) said Thursday that it swung to a net loss in the first quarter.

Bonterra reported a net loss of $7.6 million, or $0.20 per share, compared to last year's net earnings of $848,000, or $0.02 per share. The analyst consensus compiled by FactSet had been for a loss of $0.02 per share.

Revenue increased to $70.7 million from $68.6 million while production rose to a record 15,957 barrels of oil equivalent per day (boe/d) from 14,189 boe/d.

Bontera reiterated its 2025 capital guidance of $65 million to $75 million, with production tracking above the upper end of guidance of 14,800 boe/d.

The company's share price fell 3.2% on Wednesday to $3.37 on the TSX.