Financial and Operating Highlights
Three months ended
June 30,
PercentChange
Six months ended
June 30,
PercentChange
2025
2024
2025
2024
Financial (thousands of dollars except share data)
Total sales, net of blending expense (1) (4)
138,808
157,057
(12)
301,996
284,423
6
Adjusted funds flow from operations (2)
74,218
88,023
(16)
166,577
164,469
1
Per share - basic
0.31
0.37
(16)
0.70
0.70
-
- diluted
0.31
0.37
(16)
0.70
0.69
1
Cash flow provided by operating activities
68,673
90,402
(24)
138,608
145,449
(5)
Per share - basic
0.29
0.38
(24)
0.58
0.62
(6)
- diluted
0.29
0.38
(24)
0.58
0.61
(5)
Net income
38,023
53,868
(29)
88,027
91,487
(4)
Per share - basic
0.16
0.23
(30)
0.37
0.39
(5)
- diluted
0.16
0.22
(27)
0.37
0.38
(3)
Capital expenditures (1)
50,704
50,717
-
113,551
115,984
(2)
Adjusted working capital (2)
58,472
62,381
(6)
Shareholders' equity
735,055
658,448
12
Dividends declared
26,155
23,765
10
52,310
47,494
10
Per share
0.11
0.10
10
0.22
0.20
10
Weighted average shares (thousands)
Basic
237,763
237,275
-
237,767
236,096
1
Diluted
239,471
239,452
-
239,469
238,026
1
Shares outstanding, end of period (thousands)
Basic
237,763
237,654
-
Diluted (5)
237,763
241,075
(1)
Operating (6:1 boe conversion)
Average daily production
Heavy crude oil (bbls/d)
20,249
18,825
8
19,882
18,168
9
Natural gas (mmcf/d)
10.8
5.5
96
12.6
8.5
48
Natural gas liquids (bbl/d)
185
67
176
164
77
113
Barrels of oil equivalent (9) (boe/d)
22,235
19,805
12
22,151
19,661
13
Average daily sales (6) (boe/d)
22,123
19,754
12
22,071
19,607
13
Netbacks ($/boe) (7)
Operating
Sales, net of blending (4)
68.95
87.37
(21)
75.61
79.70
(5)
Royalties
(12.84)
(16.49)
(22)
(13.65)
(14.43)
(5)
Transportation
(5.65)
(5.54)
