Marjorie Hargrave
Chief Financial Officer at Hallador Energy Company
We invested $11,700,000 in capital expenditures during the first quarter of twenty twenty five, compared to $14,900,000 in the year ago period. As of 03/31/2025, our forward energy and capacity sales position was $630,400,000 compared to $685,700,000 at the end of Q4 and $657,500,000 as of 03/31/2024. When combined with our forward fuel sales of $422,700,000 as well as intercompany sales to Merum, our total forward sales book as of 03/31/2025 was approximately $1,500,000,000 During the first quarter, we reduced our total bank debt to $23,000,000 compared to $44,000,000 at 12/31/2024, and $77,000,000 at 03/31/2024. Additionally, we did not utilize our ATM program in the first quarter and have not utilized it since Q2, twenty twenty four. Total liquidity at 03/31/2025 was $69,000,000 compared to $37,800,000 at 12/31/2024, and $39,500,000 at 03/31/2024.