Petrus Resources Q4 Earnings Call Highlights

Key Points

• Management said Petrus drilled 13 operated wells in 2025 efficiently, lowered well costs, boosted liquids exposure by expanding into the Belly River formation, kept production flat, slightly increased cash flow, and maintained a high-yielding dividend.
• Early 2026 activity includes six wells drilled (four expected to be on production at the end of the week) and the acquisition of a Deep Basin Harmattan asset that adds about 2,000 BOE/d plus undeveloped lands planned for summer drilling.
• Executives noted 2025 was achieved despite a weaker pricing backdrop—falling oil prices and no LNG premium—while saying recent geopolitical events have driven commodity volatility and criticizing Canadian policies that limit energy market access.

Petrus Resources TSE: PRQ executives used the company’s year-end 2025 conference call to highlight operational execution during 2025 and to outline several early 2026 developments, including recent drilling activity and the completion of an acquisition.

Management emphasized 2025 execution and operating results

President and CEO Ken Gray said the company had just released its 2025 fourth-quarter and full-year results, but noted that the period “seems like ancient history” given “recent world events and developments here at Petrus.” Even so, Gray described 2025 as a “good year” from an execution standpoint.

According to Gray, Petrus drilled 13 operated wells “very efficiently,” reducing overall well costs and delivering “excellent productivity” from those wells. He also said the company expanded its focus to include the “oilier Belly River formation,” where it drilled several wells that increased the company’s liquids weighting.

Gray added that Petrus increased its undeveloped land position and continued investing in infrastructure. Operationally and financially, he said the company held production flat, “slightly increased cash flow,” and continued paying what he characterized as a “high-yielding dividend.”

Pricing backdrop and macro commentary

Management said 2025 results were achieved despite a weaker overall pricing environment compared with 2024. Gray cited “falling oil prices” during the year and said the “LNG premium” did not materialize.

Looking to early 2026, Gray pointed to geopolitical developments as a driver of commodity-price volatility, saying that “wars and other actions in oil regions around the world have dramatically increased oil prices.” He also voiced frustration that, in his view, Canadian government policies over the last decade have limited the industry’s ability to get energy supplies to where they are needed.

Gray said industry efficiency has enabled Canada to grow to “record production levels” despite what he called “chronically weak prices,” adding that it is “a shame we are not able to do more today.” He expressed hope that Canada could “correct this” and be in a better position to help in the future, while stating that Petrus would “continue to do its part.”

Early 2026 activity: drilling and a Deep Basin acquisition

While the call did not include prepared remarks from other executives, Gray said the leadership team participating included CFO Mathew Wong, COO Matt Skanderup, and VP of Commercial and Corporate Development Lindsay Hatcher.

Gray provided several updates on activity in early 2026. He said that just over two months into the year, Petrus had already drilled six wells and that four of those wells were expected to come on production at the end of the week of the call.

He also said Petrus completed an acquisition of what he described as a “complementary oil-weighted Deep Basin asset at Harmattan.” Gray said the acquired asset added about 2,000 barrels of oil equivalent per day (BOE/d) of production, as well as undeveloped lands that Petrus expects to begin drilling during the summer.

Call format and Q&A

The conference call did not include a question-and-answer exchange. After the operator opened the line for questions, the operator said there were no questions in the queue, and the call concluded.

Company positioning

In closing remarks, Gray said Petrus was proud of what it has accomplished and would continue to “efficiently find, develop, and produce affordable energy for Canada and the world.”

• 2025 highlights cited by management included 13 operated wells drilled efficiently, lower overall well costs, and strong well productivity.
• The company expanded work in the Belly River formation to increase liquids weighting.
• Early 2026 updates included six wells drilled, four expected to come onstream at the end of the week, and the acquisition of an oil-weighted Deep Basin asset at Harmattan adding about 2,000 BOE/d.

About Petrus Resources TSE: PRQ

Petrus Resources Ltd is a company that is engaged in the acquisition, development, exploration, and exploitation of energy business assets. The company receives maximum revenue from oil and natural gas. The company's core operating areas are Ferrier, Central Alberta, and the Rocky Mountain foothills.

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