Birchcliff Energy Posts Higher Q1 Profit, Revenue; Reaffirms 2026 Production Guidance
Birchcliff Energy (BIR.TO) after trade on Wednesday said its first-quarter profit and revenue rose year-over-year.The Western Canadian oil and gas producer earned $70 million, or $0.25 per share, in the quarter, up from $65.7 million, or $0.24 a year prior. FactSet expected $0.19 per share.Petroleum and natural gas revenue rose to $220.7 million from $197.2 million a year ago. FactSet projected $217.3 million."Looking forward, our 2026 annual production guidance of 81,000 to 84,000 boe/d and F&D capital expenditures guidance of $325 million to $375 million are unchanged, with production expected to reach about 87,500 boe/d in Q4 at the high end of capital spending," Chief Executive Chris Carlsen said.The company raised its 2026 adjusted funds flow guidance to $455 million from $430 million previously, while free funds flow guidance was increased to a range of $80 million to $130 million from the prior range of $55 million to $105 million.The board declared a Q2 cash dividend of $0.03 per common share, the same as the previous quarter. It will be payable on June 30 to shareholders of record at the close of business on June 15.Birchcliff shares closed down $0.11 to $6.32 on the Toronto Stock Exchange.