Q1 2025 Financial Highlights
Metric | Q1 2025 | Q1 2024 | % Change |
Oil and gas sales (CA$ thousands) | 91,241 | 84,148 | +8% |
Net income (loss) (CA$ thousands) | (5,169) | 11,195 | — |
Net income (loss) per share, basic | (0.03) | 0.06 | — |
Net income (loss) per share, diluted | (0.03) | 0.06 | — |
Cash provided by operating activities | 56,268 | 48,151 | +17% |
Adjusted Funds Flow | 45,565 | 45,673 | 0% |
Adjusted Funds Flow per share, diluted | 0.23 | 0.26 | -12% |
Free Funds Flow (deficit) | (27,188) | 638 | — |
Capital Expenditures before A&D | 72,753 | 45,035 | +62% |
Net Debt | 81,903 | 92,668 | -12% |
Shareholders' equity (CA$ thousands) | 563,153 | 442,249 | +27% |
Average daily production (BOE/d) | 38,328 | 33,000 (approx.) | +16% |
- Oil and gas sales increased to CA$91.2 million, up 8% from Q1 2024.
- Net loss for Q1 2025 was CA$5.2 million, compared to net income of CA$11.2 million in Q1 2024.
- Adjusted Funds Flow remained stable year-over-year at CA$45.6 million.
- Free Funds Flow was negative, reflecting higher capital expenditures in Q1 2025.
- Production averaged 38,328 BOE/d, with a notable increase in crude oil output (up 196% year-over-year).
- Capital expenditures rose significantly to CA$72.8 million, mainly to accelerate development in the Duvernay and Deep Basin assets.
- Net Debt improved to CA$81.9 million, down from CA$92.7 million in Q1 2024.
- Shareholders’ equity increased by 27% to CA$563.2 million, supported by an upsized equity financing completed in January 2025[1][2][3].
Recent Operational and Financial Context
- In the first half of 2025, Spartan Delta continued to expand production, with field estimates reaching approximately 40,000 BOE/d.
- The company ran a four-rig capital program, drilling 21 wells (17.1 net) and bringing 11 wells (8.6 net) on-stream, focusing on oil and liquids-rich natural gas[4].
- The company maintains a strong balance sheet, with a Net Debt to Annualized Adjusted Funds Flow ratio of 0.4x as of Q1 2025[1][2].
Summary
Spartan Delta Corp.'s Q1 2025 earnings reflect strong operational growth, particularly in oil production, but also a net loss due to increased capital spending and losses on derivative financial instruments. The company continues to invest heavily in its core assets, positioning itself for future growth while maintaining financial stability[1][2][3].
⁂
- https://www.newswire.ca/news-releases/spartan-delta-corp-announces-first-quarter-2025-results-861105213.html
- https://finance.yahoo.com/news/spartan-delta-corp-announces-first-223900971.html
- https://ca.marketscreener.com/quote/stock/SPARTAN-DELTA-CORP-156091064/news/Spartan-Delta-Corp-Reports-Earnings-Results-for-the-First-Quarter-Ended-March-31-2025-49859430/
- https://boereport.com/2025/07/07/spartan-delta-corp-announces-operations-update-2/
No comments:
Post a Comment