Intermediate Western Canadian producer and a near pure-play on the Montney/Doig resource fairway of Alberta's Peace River Arch, with a 91% working interest at Pouce Coupe, 75% at Gordondale and interests at Elmworth; ~79% natural gas / ~21% liquids weighting and company-owned Pouce Coupe gas processing that underpins low operating costs.
FY2025 delivered ~78 mboe/d, C$695.6M revenue, ~C$390M EBITDA, C$64.9M net income and C$99.9M free cash flow as gas prices recovered off 2024 lows; management prioritised debt reduction and reset the dividend to C$0.12/share (from C$0.40) to protect the balance sheet, holding ~0.48 bnboe proved (1P) reserves within a large 2P Montney inventory.
Its EV/EBITDA of 5.9x is above the 5.9x median across the 142-company universe, the free-cash-flow yield of 6.7% is higher than the 6.5% median, and at $2.87/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Birchcliff Energy Ltd. scores 50/100, strongest on safety (68/100). Sub-scores: value 49, quality 44, growth 27, risk 32 (higher = riskier).
Birchcliff Energy Ltd. holds approximately 0.58 billion boe of proved (1P) reserves with FY2025 production of about 80 thousand boe/d (18% liquids), a reserve life of roughly 19.8 years. Break-even: ~$45 (corporate FCF breakeven) — Gas-weighted (~79% natural gas) cost structure gives a low corporate free-cash-flow breakeven; sustaining capital plus base dividend is roughly covered around a ~US$45/bbl WTI-equivalent / ~C$2/GJ AECO strip, with upside heavily levered to natural-gas and condensate prices.
For Birchcliff Energy Ltd., no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Pouce Coupe | Canada | Montney gas | Flagship 91% WI area NW of Grande Prairie; core Montney/Doig gas plus liquids, fed by owned Pouce Coupe gas plant |
| Gordondale | Canada | Montney gas | 75% WI condensate- and liquids-rich Montney; higher-value liquids yields |
| Elmworth | Canada | Montney gas | Deep-basin Montney gas position west of Grande Prairie for future development |
| Charlie Lake | Canada | Light oil | Light-oil/condensate horizon across Pouce Coupe and Gordondale lands |
| Pouce Coupe Gas Plant | Canada | Infrastructure | 100%-owned, operated sour-gas processing and infrastructure supporting low operating costs |
| Montney 2P inventory | Canada | Montney gas | Large multi-year drilling inventory underpinning ~0.48 bnboe 1P and a bigger 2P base (NI 51-101) |
| Condensate / NGLs | Canada | Liquids | ~21% liquids weighting providing condensate uplift to gas-weighted netbacks |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 78 | 80 | 78 | 76 | 80 |
| Proved reserves (bnboe) | 0.45 | 0.47 | 0.48 | 0.48 | 0.58 |
| Revenue ($bn) | 0.6 | 0.9 | 0.5 | 0.4 | 0.5 |
| EBITDA ($bn) | 0.5 | 0.7 | 0.3 | 0.2 | 0.3 |
| Net income ($bn) | 0.2 | 0.5 | 0.0 | 0.0 | 0.1 |
| Free cash flow ($bn) | 0.2 | 0.4 | 0.0 | -0.1 | 0.1 |
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✓ FY2025 figures verified against primary sources: