Birchcliff Energy Ltd

BIR

Equity

ISIN null / Valor 2180910

Toronto Stock Exchange (2026-05-01)

CAD 6.41-0.31%

Birchcliff Energy Ltd
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About company

Birchcliff Energy Ltd. is a Calgary-based, Toronto-listed oil and gas exploration and production company that develops and produces natural gas, natural gas liquids and light oil in Western Canada, with a concentration of operations in the Montney and other plays in northeastern British Columbia and northwestern Alberta. The company focuses on drilling and completing horizontal wells and operates processing and gathering infrastructure to handle production from its acreage, marketing gas and liquids into North American pipeline networks. As an upstream operator, Birchcliff generates revenue from commodity sales and aims to manage capital allocation through development drilling, facility optimization and commodity risk management.

Summarized from source with an LLMView SourceSector: Energy

Production

2025 average production: 80,086 boe/d (82% natural gas, 18% liquids). Q4 2025 production: 83,028 boe/d (7% above Q4 2024 and above guidance).

Cash flow & profitability

Adjusted funds flow: $422.8M for 2025 ($1.55/basic share), up ~79% vs. 2024; Q4 adjusted funds flow $116.7M. Free funds flow: $116.9M for 2025 (Q4: $67.4M). Net income: $64.9M in 2025 ($0.24/share); Q4 net income $27.2M ($0.10/share).

Balance sheet & debt

Total debt at Dec 31, 2025 was $459.9M, a 14% reduction year‑over‑year. Total debt to adjusted funds flow improved to ~1.1x (Dec 31, 2025 vs 2.3x at Dec 31, 2024). Credit facilities available: $850M, ~40% unutilized capacity after adjustments.

Reserves & capital efficiency

PDP reserves increased by 30.1 MMboe in 2025 to 218.0 MMboe. PDP F&D cost: $10.15/boe (12% improvement vs. 2024); PDP F&D operating netback recycle ratio: 1.4x. PDP reserves life index: 7.2 years.

Pricing & market diversification

Effective average realized natural gas price (after market mix and instruments): $4.10/Mcf for 2025 and $4.34/Mcf in Q4 2025, reflecting significant uplift from AECO due to exposure to Dawn and NYMEX HH markets (~72–75% of gas realizing higher U.S. pricing).

Capital program & costs

F&D capital expenditures: $305.9M in 2025 (29 wells brought on production). Average operating cost reduced to $2.88/boe (11% lower year‑over‑year). Average well cost reduced ~11% YoY.

Other operational & corporate notes

Elmworth remains largely unbooked (big undeveloped inventory). Birchcliff expects audited financials and AIF to be filed March 11, 2026. Chris Carlsen (President & CEO) was appointed to the Board effective Feb 11, 2026.

Summarized from source with an LLMView Source

Key figures

11.9%1Y

-20.4%3Y

105%5Y

Performance

32.3%1Y

35.5%3Y

41.0%5Y

Volatility