Arc Resources (OTC) (TSE:ARX) has released an update.
ARC Resources Ltd. reported a productive first quarter in 2024, with a 4% increase in production to 352,328 boe per day and a significant 56% premium achieved on their natural gas prices over the AECO 7A Monthly Index. The company generated substantial funds from operations amounting to $607 million and declared dividends of $102 million, alongside a share repurchase of $15 million. Despite robust capital expenditures of $505 million, ARC maintained a solid financial position with a long-term debt balance of $1.1 billion, which is only 0.5 times their funds from operations.
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