Pine Cliff Energy (PNE) Q1 2026 earnings summary

Executive summary

• Adjusted funds flow for Q1 2026 was $9.6 million ($0.03/share), down from $11.5 million in Q1 2025.

• Production averaged 20,066 Boe/d, a 6% decrease year-over-year.

• Net loss for Q1 2026 was $1.65 million, an improvement from a $2.74 million loss in Q1 2025.

• Net debt decreased 14% to $50.5 million as of March 31, 2026.

Financial highlights

• Commodity sales were $43.8 million, down from $49.5 million year-over-year.

• Cash provided by operating activities was $12.3 million, up from $11.5 million in Q1 2025.

• Dividends paid totaled $1.3 million ($0.004/share) in Q1 2026.

• Operating netback was $7.43/Boe, down from $8.38/Boe in Q1 2025.

Outlook and guidance

• Evaluating further drilling opportunities for the second half of 2026.

• Approximately 40% of natural gas production hedged at $3.16/Mcf for the remainder of 2026.

• 46% of crude oil production hedged at US$64.96/Bbl for the same period.