Pine Cliff Energy Reports Third Quarter 2026 Results, Provides Operational Update and Declares Monthly Dividend for November 30, 2026
TSX: PNE
Pine Cliff Energy Ltd. announced its third quarter 2026 financial and operating results, provided an operational update, and declared its monthly dividend, according to the company. The announcement was made on November 5, 2026 in Calgary, Alberta.
According to the company, Pine Cliff generated $7.6 million ($0.02 per basic and fully diluted share) of adjusted funds flow for the three months ended September 30, 2026, and $23.1 million ($0.06 per basic and fully diluted share) for the nine months ended September 30, 2026, compared to $5.7 million ($0.02 per basic and fully diluted share) and $22.1 million ($0.06 per basic and fully diluted share) for the same periods in 2025.
Key Highlights
- Production averaged 20,000 Boe/d for the three months ended September 30, 2026 and 19,937 Boe/d for the nine months ended September 30, 2026, compared to 20,376 Boe/d and 20,962 Boe/d for the same periods in 2025, according to the company.
- Pine Cliff paid dividends of $1.3 million ($0.004 per basic and fully diluted share) during the three months ended September 30, 2026 and $4.0 million ($0.011 per basic and fully diluted share) during the nine months ended September 30, 2026, compared to $1.3 million ($0.004 per basic and fully diluted share) and $8.1 million ($0.022 per basic and fully diluted share) during the same periods in 2025.
- Capital expenditures of $3.5 million in the three months ended September 30, 2026 include the start of the drilling costs associated with the first of two gross Glauconite wells, according to the company.
- Net debt decreased 14% to $50.1 million as at September 30, 2026 from $58.6 million at the same point last year, according to the company.
- Subsequent to quarter end, Pine Cliff entered into a new syndicated credit facility with a maturity of September 30, 2029, which the company states includes access to $15.0 million of additional capital to support future drilling opportunities up to and including June 30, 2027, as required.
Pine Cliff stated it will host a webcast at 9:00 AM MST (11:00 AM EST) on Friday, November 6, 2026, accessible through the Pine Cliff Energy Q3 2026 Conference Call link or via the company's website. A recorded archive of the webcast will be available on the company's website following the live webcast, according to the company.
Operational Update
On October 7, 2026, Pine Cliff announced an expanded 2026 development program that the company said will include two gross Glauconite wells in the Caroline area and one gross Pekisko oil well in the Three Hills area in the fourth quarter. According to the company, the first Glauconite well has reached total depth and has been rig-released, while drilling of the second is currently underway. Both wells are expected to be completed and onstream before year-end, the company stated.
Hedge Update
Pine Cliff stated it continues to use hedging as part of its ongoing marketing strategy, resulting in an average realized natural gas price of C$2.44/Mcf in the third quarter, representing a 56% premium to the AECO Daily 5A average price of C$1.56/Mcf, according to the company.
- Approximately 37% of gross natural gas production is hedged at an average price of C$3.11/Mcf for the fourth quarter of 2026, according to the company.
- Approximately 37% of gross natural gas production is hedged at an average price of C$2.82/Mcf for 2027, according to the company.
- Approximately 51% of gross crude oil production has been hedged at US$69.23/Bbl for the fourth quarter of 2026, according to the company.
- Approximately 41% of gross crude oil production is hedged at an average price of US$79.08/Bbl for 2027, according to the company.
- NGL production is unhedged, according to the company.
November Dividend
Pine Cliff declared a monthly dividend of $0.00125 per common share to be paid November 30, 2026 to shareholders of record on November 16, 2026. The dividend is designated as eligible for Canadian income tax purposes, according to the company.
Strategic/Operational Context
According to the company, the new syndicated credit facility, which matures September 30, 2029, is intended to support future drilling opportunities through access to $15.0 million of additional capital up to and including June 30, 2027, as required. The company stated that the start of capital expenditures in the third quarter was tied to the first of two gross Glauconite wells, part of the expanded 2026 development program announced October 7, 2026.
What to Watch Next
- Completion and onstream timing of the two gross Glauconite wells and the gross Pekisko oil well, which the company has stated are expected before year-end.
- The Q3 2026 results webcast scheduled for 9:00 AM MST (11:00 AM EST) on Friday, November 6, 2026.
- Potential drawdown of the $15.0 million additional capital available under the new syndicated credit facility, available to support future drilling opportunities up to and including June 30, 2027, as required.
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