Lycos Energy Inc. Announces First Quarter Financial Results and Operations Update
Lycos Energy Inc. Announces First Quarter Financial Results and Operations Update
Calgary, Alberta--(Newsfile Corp. - May 22, 2024) - Lycos Energy Inc. (TSXV: LCX) ("Lycos" or the "Company") is pleased to announce its operating and financial results for the three months ended March 31, 2024. Selected financial and operating information is outlined below and should be read with Lycos' unaudited condensed interim consolidated financial statements and related management's discussion and analysis ("MD&A") for the three months ended March 31, 2024. These filings are available on SEDAR+ at and the Company's website at .
艾伯塔省卡尔加里--（Newsfile Corp.，2024年5月22日）——莱科斯能源公司（TSXV：LCX）（“Lycos” 或 “公司”）欣然宣布其截至2024年3月31日的三个月的运营和财务业绩。部分财务和运营信息概述如下，应与Lycos截至2024年3月31日的三个月未经审计的简明中期合并财务报表以及相关管理层的讨论和分析（“MD&A”）一起阅读。这些文件可在SEDAR+和公司的网站上查阅。
Financial and Operating Highlights
财务和运营亮点
Three months ended |
% change |
||||||||
($ in thousands, except per share) |
2024 |
2023 |
|||||||
Total petroleum and natural gas sales, net of blending(1) |
23,892 |
10,287 |
132% |
||||||
Adjusted funds flow from operations(1) |
9,591 |
2,622 |
266% |
||||||
Net income (loss) |
(1,414) |
21,812 |
(106)% |
||||||
Per share - basic |
$ |
(0.03) |
$ |
0.55 |
(105)% |
||||
Per share - diluted |
$ |
(0.03) |
$ |
0.52 |
(105)% |
||||
Capital expenditures - exploration & development |
19,450 |
11,687 |
66% |
||||||
Capital expenditures - net acquisitions & dispositions |
- |
50,000 |
(100)% |
||||||
Adjusted working capital (net debt)(1) |
(27,148) |
(4,982) |
445% |
||||||
Weighted average shares |
|||||||||
outstanding (thousands) |
|||||||||
Basic |
53,081 |
39,769 |
33% |
||||||
Diluted |
53,081 |
42,300 |
25% |
||||||
Average daily production: |
|||||||||
Crude oil (bbls/d) |
3,804 |
1,919 |
98% |
||||||
Natural gas (mcf/d) |
218 |
125 |
74% |
||||||
Total (boe/d) |
3,840 |
1,940 |
98% |
||||||
Realized prices: |
|||||||||
Crude oil ($/bbl)(2) |
68.81 |
56.57 |
22% |
||||||
Natural gas ($/mcf) |
2.07 |
2.77 |
(25)% |
||||||
Total ($/boe) |
68.27 |
56.14 |
22% |
||||||
Operating netback ($/boe) |
|||||||||
Petroleum and natural gas revenues(2) |
68.27 |
56.14 |
22% |
||||||
Realized gain on financial derivatives |
1.00 |
- |
100% |
||||||
Royalties |
(10.61) |
(9.15) |
16% |
||||||
Net operating expenses(1) |
(25.48) |
(29.55) |
(14)% |
||||||
Transportation expenses |
(1.69) |
(0.49) |
245% |
||||||
Operating netback, including financial derivatives ($/boe)(1) |
31.49 |
16.95 |
86% |
||||||
Adjusted funds flow from operations ($/boe)(1) |
27.45 |
15.01 |
83% |
||||||
(1) See Non-IFRS Measures, Non-IFRS Financial Ratios and Capital Management Measures |
|||||||||
(2) Realized prices are based on revenue, net of blending expense |
|||||||||
三个月已结束 |
% 变化 |
||||||||
（以千美元计，每股除外） |
2024 |
2023 |
|||||||
扣除混合后的石油和天然气销售总额 (1) |
23,892 |
10,287 |
132% |
||||||
调整后的运营资金流 (1) |
9,591 |
2,622 |
266% |
||||||
净收益（亏损） |
(1,414) |
21,812 |
(106%) |
||||||
每股——基本 |
$ |
(0.03) |
$ |
0.55 |
(105)% |
||||
每股——摊薄 |
$ |
(0.03) |
$ |
0.52 |
(105)% |
||||
资本支出-勘探与开发 |
19,450 |
11,687 |
66% |
||||||
资本支出——净收购和处置 |
- |
5万个 |
(100)% |
||||||
调整后的营运资金（净负债）(1) |
(27,148) |
(4,982) |
445% |
||||||
加权平均份额 |
|||||||||
杰出（千人） |
|||||||||
基本 |
53,081 |
39,769 |
33% |
||||||
稀释 |
53,081 |
42,300 |
25% |
||||||
平均日产量： |
|||||||||
原油（桶/日） |
3,804 |
1,919 |
98% |
||||||
天然气 (mcf/d) |
218 |
125 |
74% |
||||||
总计（boe/d） |
3,840 |
1,940 |
98% |
||||||
已实现价格： |
|||||||||
原油 (美元/桶) (2) |
68.81 |
56.57 |
22% |
||||||
天然气 ($/mcf) |
2.07 |
2.77 |
(25)% |
||||||
总计（美元/英国央行） |
68.27 |
56.14 |
22% |
||||||
运营净回报（美元/boe） |
|||||||||
石油和天然气收入 (2) |
68.27 |
56.14 |
22% |
||||||
金融衍生品的已实现收益 |
1.00 |
- |
100% |
||||||
特许权使用费 |
(10.61) |
(9.15) |
16% |
||||||
净运营支出 (1) |
(25.48) |
(29.55) |
(14)% |
||||||
交通费用 |
(1.69) |
(0.49) |
245% |
||||||
运营净回值，包括金融衍生品（美元/boe）(1) |
31.49 |
16.95 |
86% |
||||||
调整后的运营资金流 (美元/boe) (1) |
27.45 |
15.01 |
83% |
||||||
(1) 参见非国际财务报告准则指标、非国际财务报告准则财务比率和资本管理指标 |
|||||||||
(2) 已实现价格基于收入，减去混合费用 |
|||||||||
Q1 2024 Financial and Operating Highlights
2024 年第一季度财务和运营亮点
Highlights for the three months ended March 31, 2024 include:
截至2024年3月31日的三个月的亮点包括：
Average production volumes increased to 3,840 boe/d (99% crude oil) in the first quarter of 2024 compared to 1,940 boe/d in the first quarter of 2023, representing a 98% increase. Exit March production averaged over 4,100 boe/day.
Net operating expenses(1) were $25.48 per boe in the first quarter of 2024, representing a 14% decrease from $29.55 per boe in the comparable period of 2023.
Adjusted funds flow from operations(1) of $9.6 million in the first quarter of 2024 compared to $2.6 million in the first quarter of 2023, representing a 266% increase.
Reduced G&A expense to $3.79 per boe in the first quarter of 2024, a 17% decrease compared to $4.54 per boe in the same period of 2023.
Successfully drilled and completed 7.0 wells in the Lloydminster and Greater Lloydminster area, including 6.0 net wells (2.0 wine rack and 4.0 multi-lateral) brought on stream by the end of March 2024 and 1.0 net disposal well. Lycos commenced the drilling of an additional wine rack well that was brought on stream after the first quarter of 2024.
2024年第一季度的平均产量增加到3,840桶桶油当量/日（99％的原油），而2023年第一季度的平均产量为1,940桶桶桶/日，增长了98％。退出3月份的平均产量超过4,100桶/日。
2024年第一季度的净运营支出（1）为每桶英国央行25.48美元，较2023年同期的每英国央行29.55美元下降了14％。
2024年第一季度调整后的运营资金流（1）为960万美元，而2023年第一季度为260万美元，增长了266％。
2024年第一季度将并购支出降至每桶3.79美元，与2023年同期的每桶4.54美元相比下降了17％。
在劳埃德明斯特和大劳埃德明斯特地区成功钻探并完井7.0口井，包括到2024年3月底投产的6.0口净井（2.0口酒架和4.0个多边井）和1.0口净处置井。莱科斯开始再钻探一口酒架井，该井于2024年第一季度后投产。
(1) See Non-IFRS Measures, Non-IFRS Financial Ratios and Capital Management Measures
(1) 参见非国际财务报告准则指标、非国际财务报告准则财务比率和资本管理指标
Operations Update
操作更新
Drilling operations in Q1 2024 and the first half of Q2 2024 have been focused on our Alberta properties. To date, the Company has drilled and brought 10.0 net multi-lateral wells on production, of which 6.0 net wells were drilled using our wine rack design. The Company's 2024 drilling program targeted a 4-well pad, therefore eliminating shutting down the drilling rig for spring break up as well as realizing cost savings on rig moves. Lycos is currently drilling 2.0 net wells and expects to bring these on production by the end of May 2024. Current average production is approximately 4,500 boe/day (99% crude oil).
2024 年第一季度和 2024 年第二季度上半年的钻探作业主要集中在我们在艾伯塔省的物业上。迄今为止，该公司已经钻探并实现了10.0口净多侧井投产，其中6.0口净井是使用我们的酒架设计钻探的。该公司2024年的钻探计划以4口井垫为目标，因此无需在春季休假时关闭钻机，也节省了钻机移动成本。莱科斯目前正在钻探2.0口净井，预计将在2024年5月底之前投入生产。目前的平均产量约为4500桶桶/天（99％的原油）。
The following table highlights Lycos' drilling results from the first half of 2024 for all wells that have been on production for more than 30 days. Six of the seven wells listed were drilled in Q1 2024 and the 04/03-29-048-05W4 well was drilled in Q2 2024.
下表重点介绍了Lycos自2024年上半年以来所有已投入生产超过30天的油井的钻探结果。上市的七口油井中有六口是在2024年第一季度钻探的，04/03-29-048-05W4油井是在2024年第二季度钻探的。
Well UWI |
IP 30 |
IP 60 |
IP 90 |
Cumulative Oil to Date |
04/09-30-048-05W4 |
402 |
346 |
318 |
37,305 |
02/14-30-048-05W4 |
301 |
286 |
293 |
29,418 |
04/08-12-052-07W4 |
208 |
193 |
n/a |
13,713 |
00/06-12-052-07W4 |
201 |
169 |
n/a |
13,038 |
00/04-27-056-04W4 |
267 |
n/a |
n/a |
11,935 |
02/04-27-056-04W4 |
221 |
n/a |
n/a |
9,898 |
04/03-29-048-05W4 |
404 |
n/a |
n/a |
14,351 |
好吧 UWI |
IP 30 |
IP 60 |
IP 90 |
迄今为止的累计石油量 |
04/09-30-048-05W4 |
402 |
346 |
318 |
37,305 |
02/14-30-048-05W4 |
301 |
286 |
293 |
29,418 |
04/08-12-052-07W4 |
208 |
193 |
不适用 |
13,713 |
00/06-12-052-07W4 |
201 |
169 |
不适用 |
13,038 |
00/04-27-056-04W4 |
267 |
不适用 |
不适用 |
11,935 |
02/04-27-056-04W4 |
221 |
不适用 |
不适用 |
9,898 |
04/03-29-048-05W4 |
404 |
不适用 |
不适用 |
14,351 |
Outlook
外表
As Lycos converts inventory on lands acquired from last year, results are well above expectations. The recent success has added two new core areas to the Company's portfolio and the next round of drilling through Q3 2024 will test three new areas expected to add multiple follow up locations to our inventory on the success of those drills. Lycos plans to drill and complete 19 gross (18.6 net) multi-laterals in Q2 2024 and Q3 2024 with 3 gross (3 net) wells being drilled in Saskatchewan to take advantage of the new multi-lateral royalty relief program there.
随着Lycos转换去年购置的土地的库存，业绩远高于预期。最近的成功为公司的投资组合增加了两个新的核心区域，到2024年第三季度的下一轮钻探将测试三个新区域，预计这些钻探的成功将在我们的库存中增加多个后续地点。Lycos计划在2024年第二季度和2024年第三季度钻探并完成总共19个（净含量为18.6个）的多侧油井，同时在萨斯喀彻温省钻探总共3口井（净钻井3口），以利用那里新的多边特许权使用费减免计划。