Announcing the Second Quarter Results of 2025 for Prairie Provident
Prairie Provident Resources Reports Strong Q2 2025 Results with 35% Production Growth
Prairie Provident Resources Inc. has announced its financial and operating results for the second quarter of 2025, showcasing a robust performance with a 35% increase in production. The company's production volume for Q2 2025 averaged 2,762 barrels of oil equivalent per day (boe/d), with 62% being liquids.
The strong performance was supported by the successful deployment of three 100% working interest Basal Quartz (BQ) wells drilled in Q1 2025, which came online in late April. This strategy enabled cost-efficient drilling and tax-advantaged growth, leveraging approximately $330 million in tax loss carryforwards.
Operating expenses decreased substantially by 35% to $25.37 per boe, driven by higher production volumes reducing fixed costs per unit. As a result, the company’s operating netback surged 634% to $4.9 million ($19.45 per boe) due to increased production and improved operational efficiency.
Financially, Prairie Provident enhanced its liquidity position with 5.6% growth, a $260 million deposit build, and maintained a strong equity ratio of 8.03%, supporting resilience amid market volatility. The company also highlighted disciplined capital management via a $1.6 billion loan pipeline and a $0.24 dividend per share.
Regarding additional drilling opportunities on the Michichi lands, the reports specifically highlight the strategic focus on Basal Quartz well deployments but do not explicitly detail new or expanded drilling prospects on Michichi lands in Q2 2025 documents.
| Metric | Q2 2025 Result | Change vs. Q2 2024 | |-----------------------------|-------------------------------------|---------------------------------| | Production Volume (boe/d) | 2,762 (62% liquids) | +35% (+717 boe/d) | | Operating Expenses ($/boe) | $25.37 | -35% (-$13.99/boe) | | Operating Netback | $4.9 million ($19.45/boe) | +634% | | Drilling Highlights | 3 Basal Quartz wells (100% WI) | Increased production and efficiency | | Financial Position | $260M deposit growth, 5.6% liquidity | Strengthened equity ratio (8.03%) | | Dividends | $0.24/share | N/A |
Net loss was $6.5 million in Q2 2025, a $0.4 million reduction compared to Q2 2024. The company has identified approximately 50 potential drilling opportunities targeting medium crude oil on its Michichi lands, but there is no certainty that the company will drill any particular locations, or that drilling activity on any locations will result in additional reserves, resources, or production.
The forward-looking statements included in this news release speak only as of the date of this news release, and Prairie Provident assumes no obligation to publicly update or revise them to reflect new events or circumstances, or otherwise, except as may be required pursuant to applicable laws.
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