PrairieSky Royalty Ltd. says its net earnings for the second quarter were $48 million, down from $110.1 million a year earlier. A pumpjack works at a well head on an oil and gas installation near Cremona, Alta., on Oct. 29, 2016. THE CANADIAN PRESS/Jeff McIntosh
PrairieSky Royalty Ltd. says its net earnings for the second quarter were $48 million, down from $110.1 million a year earlier.
The Calgary-based company says it saw record quarterly average oil royalty production of 12,607 barrels per day.
PrairieSky’s revenues for the quarter ended June 30 were $117.4 million, down almost 41 per cent from $198.1 million during the same period last year.
Diluted earnings per share were 20 cents, down from 46 cents a year ago.
President and CEO Andrew Phillips says it has been a strong first half of the year for the company.
While funds from operations were up from the previous quarter, they were down 43 per cent from a year ago due in part to lower benchmark pricing.
This report by The Canadian Press was first published July 17, 2023.
- 0015 Latus Viro0015 Latus Viro
- 0054 SIMSA Energy Forum0054 SIMSA Energy Forum
- 0053 Kingston Midstream Westspur Alameda0053 Kingston Midstream Westspur Alameda
- 0052 Predator Inspections0052 Predator Inspections
- 0051 JML Hiring Pumpjack assembly0051 JML Hiring Pumpjack assembly
- 0049 Scotsburn Dental soft guitar0049 Scotsburn Dental soft guitar
- 0046 City of Estevan This is Estevan0046 City of Estevan This is Estevan
- 0043 ALX ten sizes0043 ALX ten sizes
- 0039 Summit ESP Saskatchewan lower third0039 Summit ESP Saskatchewan lower third
- 0041 DEEP Since 2018 now we are going to build0041 DEEP Since 2018 now we are going to build
- 0032 IWS Summer hiring rock trailer music
- 0022 Grimes winter hiring
- 0021 OSY Rentals S8 Promo
- 0018 IWS Hiring Royal Summer
- 0013 Panther Drilling PO ad 03 top drive rigs
- 0011
- 0006 JK Junior
- 0004 Royal Helium PO Ad 02
- 9001
- 0002