Prairie Provident Resources reports strong production results from Basal Quartz program in Q1 2025.

From GlobeNewswire: 2025-05-13 22:58:00

Prairie Provident Resources Inc. announces strong production results from the Basal Quartz horizontal drilling program in Central Alberta during Q1 2025. Three wells were drilled within budget and are now on production, with a total company sales production averaging 3,467 boe/d in May 2025.

The three BQ wells drilled in Q1 2025 produced 1,567 boe/d, validating Prairie Provident’s excitement for the emerging BQ/Ellerslie play on its Michichi lands. The company has identified over 40 potential drilling opportunities and owns key infrastructure for future development, with competitive advantages.

Financial and operating highlights for Q1 2025 include a net loss of $6.1 million, a 74% increase in operating netback before derivatives, and a 16% decrease in production compared to Q1 2024. Prairie Provident aims to optimize cash flow for low-risk development and stable cash flow while limiting production decline.



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