Pine Cliff Energy Announces Expanded 2026 Development Program, New Credit Facility and Monthly Dividend for October 30, 2026
TSX: PNE
Pine Cliff Energy Ltd. announced that it is expanding its 2026 development program in Central Alberta with the intent to drill two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area, according to the company. The company also announced it has entered a new syndicated credit facility and declared a regular monthly dividend to be paid October 30, 2026.
According to the company, Pine Cliff is partnering with a third party on the capital costs and production from the Glauconite wells, which includes the well currently being drilled and initially announced in the company's second quarter results on August 12, 2026. The company stated that its 2026 capital expenditure budget of $27 million is unchanged.
Key Highlights
- Pine Cliff intends to drill two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area, according to the company.
- The company is partnering with a third party on capital costs and production from the Glauconite wells, including the well currently being drilled and initially announced in the company's second quarter results on August 12, 2026.
- The 2026 capital expenditure budget of $27 million is unchanged, according to the company.
- Pine Cliff has entered a new syndicated credit facility with a maturity of September 30, 2029.
- The credit facility provides access to $15 million of additional capital to support future drilling opportunities up to and including June 30, 2027, as required, according to the company.
- The company has declared a regular monthly dividend of $0.00125 per common share to be paid October 30, 2026, to shareholders of record on October 15, 2026.
- The dividend is designated as an eligible dividend for Canadian income tax purposes, according to the company.
Strategic/Operational Context
According to the company, the expanded drilling plans in the Caroline and Three Hills areas reflect an addition to the 2026 program while keeping the overall capital expenditure budget of $27 million unchanged. The company stated that the new syndicated credit facility, maturing September 30, 2029, provides access to $15 million of additional capital to support future drilling opportunities up to and including June 30, 2027, as required.
Resources and Financials
- 2026 capital expenditure budget: $27 million (unchanged)
- New credit facility additional capital: $15 million, available to support future drilling opportunities up to and including June 30, 2027, as required
- Credit facility maturity: September 30, 2029
- Monthly dividend: $0.00125 per common share
- Dividend payment date: October 30, 2026
- Record date: October 15, 2026
What to Watch Next
- Progress on drilling of the two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area.
- Use of the new $15 million credit facility capacity to support future drilling opportunities up to and including June 30, 2027, as required.
- Payment of the October dividend of $0.00125 per common share on October 30, 2026, to shareholders of record on October 15, 2026.
About Pine Cliff
Pine Cliff is a natural gas and crude oil company with a long-term view of creating shareholder value. Further information relating to Pine Cliff may be found on sedarplus.ca as well as on Pine Cliff's website at www.pinecliffenergy.com.
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