Q4 2024 Petrus Resources Ltd Earnings Call Transcript
Key Points
- Petrus Resources Ltd (PTRUF) generated strong cash flow of $12.5 million for Q4 and $50.1 million for the year 2024.
- The company maintained relatively flat production, averaging 9,066 BOE per day in Q4, despite a 4% decrease from Q4 2023.
- Improved capital efficiency allowed Petrus Resources Ltd (PTRUF) to generate more production and cash flow per dollar invested.
- The company achieved a 25% improvement in NGL yields in Q4 compared to Q4 2023.
- Petrus Resources Ltd (PTRUF) has already drilled as many operated wells in early 2025 as it did in all of 2024, indicating a strong start to the year.
- The company faced the lowest gas prices in 30 years, impacting revenue potential.
- Capital expenditure was cut by over 60% from 2023 due to low gas prices, potentially limiting growth opportunities.
- Production was slightly down by 4% compared to Q4 2023, indicating challenges in maintaining output levels.
- Political turmoil, including a federal election and potential US tariffs, presents uncertainty and potential risks for the business.
- The absence of questions during the Q&A session may suggest limited investor engagement or concerns about the company's future prospects.
Good day, and thank you for standing by. Welcome to the Petrus Resources Fourth Quarter 2024 Results Conference Call. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to hand the conference over to your speaker today, Ken Gray. Please go ahead.
Good morning, and welcome to Petrus Resources Q4 2024 and year-end earnings call. My name is Ken Gray, CEO of Petrus; and I am joined here by our executive team of Matthew Wang, our CFO; Matt Skanderup, our COO; and Lindsay Hatcher, our VP Commercial and Corporate Development.
The story for Q4 and for 2024 in general was our ability to generate strong cash flow, $12.5 million for the quarter and $50.1 million for the year, and to hold production relatively flat, averaging 9,066 BOE per day in Q4, down only 4% from Q4 2023.
We did this despite working through the lowest gas prices in 30 years. We also did it despite cutting capital over 60% from 2023 in response to
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