Pieridae Energy Limited Unveils 2025 Guidance and Capital Program Overview

Calgary, Alberta – Dec. 05, 2024 – Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is excited to share its 2025 guidance, offering a glimpse into the scope of the 2025 capital program, production projections, and Net Operating Income (“NOI”) estimates. The company’s vision for 2025 focuses on maintaining a safe and regulatory-compliant business, minimizing facility outages, growing third-party gathering and processing business, reducing operating expenses, delivering attractive ROI on optimization projects, and decreasing long-term debt.

2025 Guidance Estimates:
– Production (boe/d): 23,000-25,000
– NOI ($M): $75,000-$95,000
– Operating Netback ($/boe): $9.00-$11.00
– Capital Expenditures ($M): $25,000-$30,000

The 2025 production guidance assumes that approximately 9,400 boe/d of voluntary production shut-ins in Central AB, Northern AB, and Northeast BC will persist throughout the year, with the potential for reactivation based on long-term economics. Pieridae has hedged a significant portion of its 2025 natural gas and condensate production, providing stability in a volatile market.

Pieridae’s 2025 Priorities

The company’s focus for 2025 includes sustaining a safe business, maximizing sales revenue, and operational efficiency while reducing costs and improving financial flexibility. By strategically investing in high-impact projects and optimization programs, Pieridae aims to enhance revenue streams and operational efficiency.

Capital Budget Allocation

Approximately $14 million of the $25-$30 million capital budget is allocated to high-impact well and facility optimization projects. These projects, funded with equity raised in Q3 and Q4 2024, are expected to drive sales revenue, improve facility efficiency, and reduce operating costs. The remainder of the capital will fund routine maintenance, technology upgrades, and site closure activities in Alberta and BC.

Looking Ahead

Despite the current outlook for North American natural gas prices, Pieridae does not plan to resume drilling operations in 2025. The company will wait for sustainable price recovery and achieve its deleveraging target before exploring high-impact drilling opportunities.

As a Canadian energy company, Pieridae is committed to providing responsible, affordable natural gas products to meet society’s energy needs. With a strong focus on operational efficiency and financial sustainability, Pieridae is poised for growth and success in the energy sector.

For more information, visit www.pieridaeenergy.com or contact Darcy Reding, President & Chief Executive Officer, or Adam Gray, Chief Financial Officer, at (403) 261-5900.

As a young journalist covering the energy sector, I vividly remember my first visit to a natural gas facility. The sheer scale of operations and the hum of machinery left me in awe of the intricate processes involved in energy production. Hearing about Pieridae Energy Limited’s ambitious plans for 2025 reignited that sense of wonder. The company’s strategic priorities, investment in optimization projects, and commitment to financial sustainability showcase a blend of innovation and pragmatism that is essential in today’s energy landscape.

In a world where energy security is paramount, Pieridae’s dedication to responsible, affordable natural gas production resonates deeply. The company’s focus on safety, efficiency, and long-term viability sets a compelling example for the industry. It’s not just about numbers and projections; it’s about shaping a sustainable future for energy generation and consumption.

So, as Pieridae embarks on its journey towards growth and success in 2025, I can’t help but feel a sense of optimism. In a rapidly changing world, companies like Pieridae stand out for their commitment to innovation, responsibility, and resilience. As we navigate the complexities of the energy sector, Pieridae’s story serves as a beacon of hope, reminding us that with vision, determination, and strategic planning, we can power a brighter tomorrow.