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Pine Cliff Energy (PNE) investor relations material
Pine Cliff Energy Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Drilled a new Glauconite well after a multi-year pause, with early results encouraging but too soon for long-term conclusions.
Adjusted funds flow for 2025 was $29.9 million ($0.08/share), down from $38.0 million ($0.11/share) in 2024; Q4 2025 was $7.8 million ($0.02/share), down from $8.6 million in Q4 2024.
Net income for Q4 2025 was $3.8 million, but a net loss of $12.1 million was recorded for the full year, compared to a $21.4 million loss in 2024.
Infrastructure investments for the new well were on budget and set up for future drilling in the area.
Maintained a steady dividend program, distributing over CAD 100 million since 2022, with $9.4 million paid in 2025 ($0.026/share), down from $25.6 million ($0.072/share) in 2024.
Financial highlights
Q4 performance was strong, aided by rising AECO prices.
Commodity sales for 2025 were $172.2 million, down from $190.1 million in 2024.
Operating netback for 2025 was $6.10/Boe, compared to $6.67/Boe in 2024.
Capital expenditures for 2025 were $14.8 million, up from $2.5 million in 2024.
Each $1 increase in WTI oil price adds approximately $1.4 million to annual cash flow.
Outlook and guidance
2026 capital expenditure budget set at $15.2 million, including $6.5 million for abandonment, reclamation, and facility maintenance.
Plans to resume drilling in Central Alberta Glauconite wells in Q3 or Q4, contingent on market conditions.
One Glauconite well completed in early 2026; further drilling opportunities under evaluation for H2 2026.
37% of 2026 natural gas production hedged at $3.19/Mcf; 31% of crude oil hedged at US$63.45/Bbl.
Regular monthly dividend of $0.00125/share declared for March 2026.
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