Petrus Resources – 2023 Will Be A Big Year Of Production Growth And Increasing Free Cash Flows

Shad Marquitz
December 1, 2022

We are joined by Ken Gray, President and CEO, and Matt Skanderup COO of Petrus Resources (TSX: PRQ) (OTC: PTRUF), for a review of 2022 operations and financials, and a look forward into production and financial growth for 2023.


We start off by getting a recap of the 2022 capital program, and some guidance for growing free cash flows for 2023, as production growth will be expanding.   The company has drilled 15 oil and gas wells, at both the flagship Ferrier liquids-rich Cardium gas play and Ferrier North in Alberta.   The company is anticipating a 75% increase in production in 2023 over 2022, and projects it will be producing 13,000+ BOE per day on average by next year.  There is also anticipated 65% increase in free cash flows projected for next year, equating to $140-$150Million annually.  The plan is to start working through more debt next year, and the work budget is slated to be in the $130-$135Million for 2023.


Ken outlines that this large growth profile heading into next year is what distinguishes Petrus Resources from other oil and nat gas companies in the sector, and Matt outlines some key news and company milestones for investors to keep tabs on as we turn the calendar over to 2023.


If you have any questions for Ken or Matt with regards to Petrus Resources, then please email us at either or