Welcome to our dedicated page for Nxt Energy news (Ticker: NSFDF), a resource for investors and traders seeking the latest updates and insights on Nxt Energy stock.
NXT Energy Solutions Inc. (NSFDF) is a leader in airborne geophysical survey technology, specializing in proprietary SFD® systems that transform hydrocarbon and geothermal exploration. This page serves as the definitive source for company developments, offering investors and industry professionals timely updates on strategic initiatives and technological breakthroughs.
Access comprehensive coverage of NSFDF's operational milestones, including SFD® survey deployments, partnership announcements, and financial performance. Our curated news feed delivers essential insights into how the company's quantum sensor technology reduces exploration risks while optimizing land assessment strategies across diverse geological regions.
Key updates include advancements in gravitational detection methodologies, global project expansions, and analyses of the SFD® system's role in modern energy exploration. All content is rigorously verified to ensure alignment with regulatory standards and investor information needs.
Bookmark this resource for direct access to NSFDF's latest press releases and expert analyses. Regularly updated content provides stakeholders with the critical data required to monitor this innovator's progress in reshaping subsurface exploration efficiency.
NXT Energy Solutions (NSFDF) has secured a new contract to conduct an SFD® survey for an oil and gas exploration company in Africa, partnering with Synergy Exploration and Production Technologies Limited. The data acquisition phase is scheduled to begin in Q3 2025, with final interpretations and recommendations expected to be delivered to the client in Q4 2025. Synergy, an affiliate of Ataraxia Capital (which holds convertible debentures in NXT), will collaborate with NXT's exploration team to execute the contract.
NXT Energy Solutions (NSFDF) has released its financial results for the year ended December 31, 2024. The company reported a significant decline in revenue, with SFD®-related revenues dropping to $0.64 million in 2024 from $2.15 million in 2023. The company recorded a net loss of $9.08 million for the year.
Key operational highlights include new SFD® survey contracts in Africa, Southeast Asia, and Pakistan, with the African survey completed in January 2025. The company secured financing through convertible debentures totaling US$2.9 million from MCAPM, LP and Ataraxia Capital.
Financial position shows cash and short-term investments of $0.73 million and negative working capital of $6.68 million as of December 31, 2024. General and administrative expenses increased by 16% year-over-year. The company has extended its aircraft lease and reduced office space by 31%.
NXT Energy Solutions (TSX:SFD)(OTCQB:NSFDF) has announced several operational updates. The company has completed SFD® data acquisition over 14 flight days for an African oil and gas exploration company through their partner Synergy, with interpretation recommendations expected in Q2 2025.
The company's Cessna 560 Ultra aircraft is undergoing scheduled maintenance in preparation for two upcoming SFD® surveys: one in Southeast Asia planned for April 2025 with recommendations due in May 2025, and another in Pakistan through AL-Haj Enterprises expected to commence in Q3 2025 with recommendations in Q4.
CEO Bruce G. Wilcox anticipates significant positive financial impact from these surveys for Q1 and full-year 2025. The company plans to release its Q4 and full-year 2024 financial results during the week of March 24, 2025, and Q1 2025 results in the first half of May 2025.
NXT Energy Solutions announced changes to its Board of Directors. John Tilson, a substantial long-term shareholder who served on the Board since 2015, has retired. His son, Jeffrey S. Tilson, has been appointed as his replacement. Jeffrey brings 23 years of experience as an Investment Advisor and currently manages JST Investment Consulting Inc., a Registered Investment Advisor firm. He holds Bachelor of Science degrees in Finance and Information Systems E-Commerce from California State University-Long Beach. Both Jeffrey and his wife maintain significant shareholdings in NXT, and Jeffrey serves as a trustee for the Tilson Family Trust.
NXT Energy Solutions has been named a finalist for the Energy Transition Award - Upstream category at the Annual Platts Global Energy Awards. This recognition follows their recent win of 'Best Exploration Technology' at the 2024 Gulf Energy Information Excellence Awards. The Platts Global Energy Awards acknowledge corporate and individual innovation, leadership, and performance across 19 categories in the energy and chemicals value chain. Winners will be announced at a gala in Manhattan on December 12, 2024.
NXT Energy Solutions has completed the final tranche of a planned private placement of US$900,000 convertible debentures to Ataraxia Capital, with the final amount being US$400,000. The debentures bear 10% annual interest, are payable in two years, and are convertible to common shares at US$0.24 per share. Ataraxia now owns US$2.3 million in debentures, potentially representing 14.7% of outstanding shares upon conversion. The proceeds will support working capital needs for upcoming SFD® surveys in Africa and Southeast Asia, along with administrative and business development activities.
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