Canada's PrairieSky Royalty Q1 revenue rises

Prairiesky Royalty

20/04/2026 21:17

Overview

Canada royalty company's Q1 revenue rose 4% yr/yr to C$133.8 mln

Funds from operations increased 11% yr/yr, driven by higher production and leasing revenue

Company repurchased 269,077 shares for C$8.3 mln and completed C$4.2 mln in acquisitions

Outlook

Company expects Duvernay drilling to drive oil production growth in H2 2026

PrairieSky anticipates continued activity and oil, NGL royalty production growth at current prices

Company plans to renew normal course issuer bid, subject to regulatory approval

Result Drivers

HIGHER ROYALTY PRODUCTION - Q1 production volumes rose 4% yr/yr, led by oil and NGL growth, with Clearwater and Duvernay plays contributing to increases

LEASING ACTIVITY - Bonus consideration from 48 new leasing arrangements added C$12.3 mln to other revenue

INCREASED DRILLING - Record 26 Duvernay wells and higher multilateral drilling activity supported production growth

Company press release: ID:nGNX12qzHB

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
C$133.80 mln
Q1 Net Income
C$55.80 mln
Q1 FFO
C$94.90 mln
Q1 Net Debt
C$257.70 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy."

Wall Street's median 12-month price target for Prairiesky Royalty Ltd is C$33.00, about 7% above its April 17 closing price of C$30.85

The stock recently traded at 36 times the next 12-month earnings vs. a P/E of 29 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)