Advantage Energy (TSE:AAV) has released an update.
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Advantage Energy Ltd. has updated its 2024 guidance, reducing its gas drilling program to optimize performance and financials in the face of subdued gas prices, resulting in a $20 million decrease in capital expenditure and a corresponding increase in free cash flow. The company’s production guidance has been adjusted, with a focus on maintaining liquid production levels. For 2025, Advantage aims to prioritize free cash flow to improve its financial leverage before shifting its strategy towards share buybacks.
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