Advantage Energy (TSE:AAV) has released an update.
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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