05:10 PM EDT, 05/07/2025 (MT Newswires) -- Kiwetinohk Energy ( KWTEF ) Wednesday after trade reported first-quarter adjusted funds flow jumped, boosted by higher sales and production.

Adjusted funds flow from operations was $116 million, or $2.59 per share, from $75 million, or $1.71, in the prior year period.

The Western Canadian oil and gas producer said it earned $54.92 million, or $1.25 per share, in the quarter, up from $11.09 million, or $0.25.

Commodity sales from production was $168.4 million, compared with $120 million. Kiwetinohk reported record quarterly production of 32,611 barrels of oil equivalent per day, up from 27,556 boe/d last year.

The company said annual production guidance remains unchanged at 31,000 to 34,000 boe/d.

"Record quarterly production of 32,611 boe/d and efficiencies gained on our controllable costs in the first quarter underpinned our inaugural quarter of positive free funds flow, generating $29.5 million during the quarter. Complementing our upstream success, the power development portfolio contributed $21 million of proceeds from the sale of our Opal gas-fired power project," said Pat Carlson, chief executive officer.

Kiwetinohk closed $0.13 lower to $14.83 on the Toronto Stock Exchange.