Overview

* Petrus Q2 2025 production rises 3% qtr/qtr to 9,155 boe/d

* Operating expenses down 10% qtr/qtr to $6.10/boe

* Realized commodity prices fell, impacting overall revenue

Outlook

* Petrus expects annual production between 9,000 and 10,000 boe/d

* Company forecasts 2025 capital investment within C$40 to C$50 mln

* Petrus hedged 60% of forecasted production at $2.70/GJ for gas

* Company remains adaptable to market changes for sustainable returns

Result Drivers

* PRODUCTION INCREASE - Five wells brought on production late in Q2, boosting average production by 3%

* CAPITAL SPENDING - Capital spending rose 58% year-over-year, driven by drilling and North Ferrier pipeline expansion

* OPERATING EXPENSES - Operating expenses decreased 10% due to reductions in field-related expenditures

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Oil & C$21.51

Gas mln

Revenue

Q2 -C$5.08

Operatin mln

g

Expenses

Analyst Coverage

* The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 14 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)