05:00 PM EST, 11/03/2025 (MT Newswires) -- Topaz Energy ( TPZEF ) , after trade Monday, said its third-quarter profit and revenue rose year-over-year.

The oil and gas royalty and infrastructure company reported adjusted net income of $16.1 million, or $0.10 per share, in the period, up from $8.3 million, or $0.06, a year ago. FactSet expected $0.06 per share.

Total revenue and other income for the quarter ended Sept. 30 stood at $76.4 million, up from $73.6 million a year prior. The company said 49% of the revenue came from crude and heavy oil royalties, 20% from natural gas and NGL royalties, and 31% from the infrastructure portfolio. FactSet projected sales of $85 million.

On the drilling activity front, the company said, "Based on planned operator drilling activity, Topaz expects between 27 and 31 active drilling rigs on the company's royalty acreage through the fourth quarter of 2025."

Topaz reaffirmed its 2025 guidance, expecting average annual royalty production between 21,000 and 23,000 barrels of oil equivalent per day and processing revenue and other income between $88 million and $92 million.

The board declared the company's fourth-quarter dividend, the same as the previous quarter, of $0.34 per share. It will be paid on Dec. 31 to shareholders on record as of Dec. 15.

Topaz shares closed down $0.06 to $24.84 on the Toronto Stock Exchange.