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CALGARY - Crown Point Energy Inc. (TSX-V:CWV), a small-cap energy company with a market capitalization of $7.42 million, reported a net loss of $5.7 million for the second quarter ended June 30, 2025, despite higher oil and natural gas sales revenue compared to the same period last year, according to a press release statement. According to InvestingPro analysis, the company’s stock has shown remarkable resilience with a 133% return over the past year.
The company posted revenue of $22.2 million on average daily sales volumes of 4,083 barrels of oil equivalent (BOE) per day, up from $5.6 million on 1,340 BOE per day in Q2 2024. The increase was primarily attributed to oil sales from the Santa Cruz Concessions acquired in October 2024.
Crown Point reported negative operating netback of $7.50 per BOE, compared to negative $4.22 per BOE in the same quarter last year. The company received an average of $3.45 per mcf for natural gas and $67.26 per barrel for oil during the quarter.
Cash provided by operating activities was $5.6 million, while funds flow used in operating activities totaled $5.0 million. The company ended the quarter with a working capital deficit of $50.7 million and current liabilities of $74.5 million.
In the period following June 30, Crown Point repaid $5.62 million of working capital and overdraft loans, along with $5.5 million in notes payable. The company also issued $25 million in unsecured fixed-rate Series VII Notes, payable in two equal installments in January and July 2027.
Crown Point continues to progress with its planned acquisition of a 95% operated interest in the Chubut Concessions from Tecpetrol S.A., YPF S.A., and Pampa Energía S.A. for approximately $57.9 million plus contingent consideration of up to $3.5 million. The acquisition is expected to close in the third quarter of 2025, subject to regulatory approvals.
The company has budgeted $12.3 million for capital spending in fiscal 2025, with $10.4 million allocated to the Santa Cruz Concessions.
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