CALGARY, AB, Nov. 27, 2025 /CNW/ – Fiddlehead Resources Corp. (“Fiddlehead,” or the “Company”) (TSXV:FHR), is pleased to announce the filing of its unaudited financial and operating results for the three and nine months ended September 30, 2025. Selected financial and operating information should be read in conjunction with Fiddlehead’s unaudited interim financial statements and related management’s discussion and analysis (“MD&A”) for the three and nine months ended September 30, 2025 and 2024 (“2025 Q3 Documents”). Financial and operating highlights for the period include:
Production averaged 1,107 BOE/d in the quarter, down from 1,526 BOE/d in Q21, primarily as a result of a 3rd party facility turnaround. Approximately 500 BOE/d was shut-in on September 2nd until October 16th. In June approximately 90 BOE/d of production was shut-in due to 3rd party facility capacity constraints, the production is being rerouted to another facility and expected to resume production in December. Production for the month of November 2025 has averaged 1,295 boe/d, including 69 bbls/d of light oil, 339 bbls/d of natural gas liquids, and 5325 Mcf/d of conventional natural gas.
Oil and gas sales totaled $1,700,685 and Funds Flow used in Operations was $1,111,408.
On August 1st, 2025 the Alberta Energy Regulator (AER) approved the license transfer to Fiddlehead of the South Ferrier / Strachan assets purchased in August of 2024. On August 27th, 2025 after a planned transition period Fiddlehead took over operatorship of the acquired assets from the vendor.
Upon approval of the license transfer, Fiddlehead was able to physically hedge a portion of its production. Fiddlehead has hedged 1,500 Gj/d of gas at $2.86/Gj for November 2025 through October 2026.
In relation to the previously announced Cynthia Transaction on April 10, 2025, the term of exclusivity with the private central Alberta producer has expired, however Fiddlehead continues to explore avenues to close the transaction.
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1 Q2 2025 production averaged 84 bbls/d of light oil, 396 bbls/d of natural gas liquids, and 6,281 Mcf/d of conventional natural gas, for a total of 1,526 boepd.
The table below summarizes selected highlights from the Company’s financial and operating results:
(Expressed in $000s, except per share, price and volumes amounts)
Three months ended
September 30
Nine months ended
September 30
2025
20244
2025
20244
OPERATING HIGHLIGHTS AND NETBACKS1
Average production and sales volumes
Light oil (bbls/d)
51
50
84
17
NGLs (bbls/d)
293
130
360
44
Natural gas (Mcf/d)
4,577
2,342
5,860
786
Total BOE/d)
1,107
571
1,421
192
Average realized sales prices
Light oil ($/bbl)
82.93
82.85
85.81
82.85
NGLs ($/bbl)
39.37
45.67
40.94
45.67
Natural gas ($/Mcf)