06:27 AM EDT, 03/20/2025 (MT Newswires) -- Pieridae Energy ( PTOAF ) late on Wednesday said it swung to fourth-quarter net loss as total production declined.

The net loss came in at $20.9 million, or a loss of $0.08 per share, swinging from an income of $7.4 million, or $0.03 per share. Net operating income was $13.7 million, down from $25.4 million. Funds flow from operations fell to $2.8 million from $14.3 million.

The company produced 22,568 barrels of oil equivalent per day, down from 33,340 boe/d.

In 2025, Pieridae expects to produce 23,000 to 25,000 boe/d, compared with 27,763 boe/d in 2024, and a net operating income of $75 million to $95 million, compared with $64.6 million in 2024.