Advantage Energy (TSE:AAV) has released an update.
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Advantage Energy Ltd. has adjusted its 2024 guidance, reducing its gas drilling program at Glacier from 18 to 13 wells due to outperforming wells and low gas prices, while maintaining its oil-focused programs at Wembley and Charlie Lake. The company anticipates an increase in 2024 free cash flow by approximately $20 million following a $20 million reduction in capital guidance. Looking ahead to 2025, Advantage aims to maximize free cash flow to hasten debt reduction before shifting back to share buybacks.
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