Structural Improvements and Governance Simplification
Freehold terminated the management agreement with Rife, simplifying governance and streamlining decision-making processes with a fully dedicated team, effective May 1, 2025.
Record Production Levels
Q1 production reached 16,248 BOE per day, the highest since Freehold's inception in 1996, with 65% liquids weighting contributing to $16 million in funds from operations.
U.S. Production Premium
Realized pricing averaged $72.64 BOE in the U.S., a 47% premium over Canadian production, driven by higher oil weighting and lower transportation costs.
Robust Leasing Activity
Q1 leasing of U.S. mineral title lands reached $3.3 million, a new high watermark, with a total contribution of $3.9 million in revenue from leases in Canada and the U.S.
Heavy Oil Production Growth
Heavy oil production increased by 19% from Q1 2024, with strong activity levels in Clearwater and Mannville Stack.
Strategic Positioning in Permian Basin
Freehold is strategically growing its portfolio in the Permian Basin, focusing on undeveloped benches and drilling spacing units to maximize production growth.
Sustainable Dividend Strategy
The dividend of $1.08 per share is sustainable with oil prices around US$50, supported by a multi-decade inventory of drilling locations.