So far in 2025, Teekay Tankers has sold or agreed to sell 11 vessels for total gross proceeds of $340 million and estimated book gains on sale of approximately $100 million.
Teekay Tankers generated $128 million in free cash flow in the first half of 2025 with no debt on the balance sheet.
Teekay Tankers reported GAAP net income of $62.6 million or $1.81 per share and adjusted net income of $48.7 million or $1.41 per share in the second quarter.
The company declared its regular quarterly fixed dividend of $0.25 per share.
The company generated approximately $62.8 million in free cash flow from operations in Q2 and had a cash and short-term investment position of $712 million with no debt at quarter end.
Cash G&A expenses were $22 million, below guidance, with a $7 million reduction in full-year cash G&A guidance.
Chord Energy delivered strong second quarter 2025 results with free cash flow of approximately $141 million, exceeding expectations.
Lease operating expenses (LOE) were $10.02 per Boe, at the higher end of guidance, mainly due to increased workover costs after first quarter weather disruptions.
Net debt was approximately $810 million as of July 31, with net leverage around 0.3x trailing 12 months, and liquidity of about $1.8 billion.
Oil volumes were above the top end of guidance due to strong execution, well performance, and reduced downtime.
Production taxes averaged 7.3% of commodity sales, below expectations due to nonrecurring refunds for stripper wells.
Returned 92% of free cash flow to shareholders, including a base dividend of $1.30 per share and significant share repurchases reducing share count by about 10%.
Dafinchi