CALGARY, AB, April 30, 2026 /CNW/ - Fiddlehead Resources Corp. ("Fiddlehead" or the "Company") (TSXV:FHR) is pleased to announce financial and operating results for the three and twelve months ended December 31, 2025 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2025, prepared by GLJ Ltd. ("GLJ"). The Company also announces that its audited financial statements and associated Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2025, are available on SEDAR+ at www.sedarplus.ca.
Highlights
Achieved average corporate production of 1,306 BOE/d in Q4 2025. Q4 was the first complete quarter where the Company had full operational control of its acquired assets. The Company completed the license transfer in August, 2025, and operational handoff took place later that month. Staff and systems have been effectively on-boarded.
For the year ended December 31, 2025, the Company averaged 1,389 BOE/d. The team is looking forward to maintaining disciplined operations in Ferrier, and will be working to build on its effective workover and optimization program that added 85 BOE/d of production in the fourth quarter from four wells at a total program cost of $26,500.
For the fourth quarter of 2024, Fiddlehead's petroleum and natural gas sales totaled $2.7 million.
Notes to Highlights:See "Caution Respecting Reserves Information" and "Non-GAAP and other Specified Financial Measures".
President's Message
The fourth quarter of 2025 saw the realization of the long-anticipated operational control of the Ferrier assets. The Fiddlehead team welcomed new members, and the integration process was remarkably successful. The knowledge and continuity brought by incorporating these new staff lead to a smooth transition.
Summary of Financial & Operating Results
(Expressed in $000s, except per share, price and volume amounts)
Three months ended
December 31
Year ended
December 31
2025
2024
2025
20244
2023
OPERATING HIGHLIGHTS AND NETBACKS1
Average production and sales volumes
Light oil (bbls/d)
30
134
71
137
-
NGLs (bbls/d)
375
378
364
377
-
Natural gas (Mcf/d)
5,409
6,675
5,724
6,690
-
Total (BOE/d)
1,306
1,624
1,389
1,629
-
Average realized sales prices
Light oil ($/bbl)
71.83
91.72
84.24
89.32
-
NGLs ($/bbl)
33.40
55.39
38.96
52.90
-
Natural gas ($/Mcf)
2.41
1.28
1.75
1.03
-
Total oil equivalent ($/BOE)
21.30
25.86
21.86
24.13
-
Netbacks ($/BOE)1
Petroleum and natural gas sales
21.30
25.86
21.86
24.13
-
Royalties
4.09
6.67
5.25
6.51
-
Operating expenses
13.01
11.25
12.04
11.29
-
Transportation expenses
0.08
0.09
0.13
0.10
-
Prior Period Adjustment1,5
13.26
-
2.43
