Canada · Delayed Price · Currency is CAD Tenaz Energy Earnings Call Transcripts
Fiscal Year 2025
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The acquisition of a non-operated interest in the GEMS project expands production and reserves, strengthens exposure to the TTF gas market, and leverages state-of-the-art, low-emission infrastructure. The deal is accretive, with strong growth, low costs, and significant long-term upside.
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Q1 2025 saw a 3% production increase, driven by strong Netherlands output and new Canadian wells. FFO declined due to acquisition costs, but the NOBV deal closed early, adding significant reserves and cash. Full-year production is forecast at 9,000–9,500 BOE/d.
Fiscal Year 2024
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2025 guidance projects 10% overall production growth, with a 15% increase in Canada and a major Netherlands well expected late in the year. NOBV acquisition is on track for mid-year, with new guidance and expanded leadership to follow.
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The meeting confirmed all director and auditor appointments, reviewed strong 2023 financials with doubled production and increased working capital, and outlined 2024 plans including a new gas plant acquisition, continued asset development, and a leadership transition.