2025 budget out... some highlites ..see below...dwdc
Pieridae has hedged 110,000 GJ/d of its 2025 natural gas production at a weighted average fixed price of $3.32/GJ, and 1,679 bbl/d of its 2025 condensate production with a weighted average floor price of CAD$84.41/bbl and a weighted average ceiling price of CAD$92.32/bbl. The Company’s aggregate hedge position for 2025 totals 19,055 boe/d or approximately 80% of the above production guidance range. The unrealized gain on the Company’s hedge portfolio, which extends to mid-2028, is approximately $87 million using the forward strip as of November 30, 2024.
Pieridae’s legacy fixed price sulphur contract, which was entered into in 2019, expires on December 31, 2025. Under this contract, the Company receives a net fixed price of approximately $6/tonne for the majority of its sulphur production of approximately 1,400 tonnes per day. Beginning January 1, 2026, the Company will receive market price for all sulphur production, less normal deductions for transportation, handling, and marketing representing a significant potential revenue opportunity. As of November 30, 2024, the spot west coast sulphur price is approximately US$143/tonne, prior to transportation and marketing costs.