Calgary’s Own Topaz Energy Hits a High Note in Q3 2025
Calgary’s own Topaz Energy is hitting all the right notes, kicking off Q4 with stellar Q3 2025 results announced on November 3, 2025. This local energy player, a familiar name in Calgary’s vibrant energy landscape, reported a robust cash flow of $74.8 million, marking a 7% increase per share from the previous year.
The company’s royalty production soared, up 15% from the prior year in Q3 2025, even hitting a new record for heavy oil royalty production. Shareholders will be pleased with the approved Q4 dividend of $0.34 per share, translating to a 5.5% annualized yield based on Topaz’s current share price. Adding to their growth story, Topaz successfully completed a tuck-in royalty acquisition from Tourmaline on September 30, 2025.
This strong performance from a Calgary-based company underscores a broader positive trend for the city's energy sector. Amidst ongoing discussions of economic diversification, Calgary’s economy is projected to outperform national averages in 2025, partly fueled by solid oil prices and robust production from local energy giants. Topaz Energy’s impressive quarter certainly adds to that optimistic outlook, reinforcing Calgary's enduring role as a powerhouse in Canada's energy story.
