04:33 PM EDT, 10/20/2025 (MT Newswires) -- PrairieSky Royalty ( PREKF ) after trade Monday said its third-quarter profit and revenue fell while royalty oil production volumes increased 11% year-over-year.

The Western Canadian oil and gas royalty company said it earned $45.9 million, or $0.20 per share, in the period, compared with $47.3 million, or $0.20, a year ago. FactSet expected $0.22 per share.

Revenue dropped to $114.8 million from $117.3 million in the year-ago quarter. Royalty production revenue stood at $107.7 million, and other revenue was $7.1 million. The FactSet estimate was not available.

Oil royalty production rose 11% year-over-year, averaging 14,127 barrels of oil per day. Total royalty production averaged 25,687 barrels of oil equivalent per day, up 5% from the same period in 2024.

"Growth in oil royalty production was driven by multiple Duvernay light oil wells in the West Shale Basin. Third-party operators continue to be active in the Duvernay play and there were an incremental 16 wells spud on PrairieSky royalty properties in the quarter. Oil royalty production from the Clearwater reached over 2,500 barrels per day, representing a compounded annual growth rate of 19% since Q1 2022, with the play benefiting from a strong pace of development combined with the application of waterfloods, which have mitigated declines," Chief Executive Andrew Phillips said in a release.

"With an estimated 40% of PrairieSky's Clearwater royalty production now under waterflood, the play continues to support low declines at a corporate level," he added.

The company also said it has appointed Ian Dundas to the board of directors, effective Jan. 1, 2026.

PrairieSky shares closed up $0.27 to $25.07 on the Toronto Stock Exchange.