Nuvista Energy Ltd. (TSE:NVA) has released an update.
NuVista Energy Ltd. reported a strong financial and operational performance for the first quarter of 2024, with a 12% increase in production from the previous year and an adjusted funds flow of $135.4 million. Despite a temporary decline in natural gas prices, the company maintained robust netbacks and invested heavily in high-return wells and infrastructure, focusing on its Wapiti Montney asset base. Additionally, NuVista improved its financial flexibility by renewing a $450 million credit facility and continued its shareholder returns by repurchasing 1.3 million shares under its NCIB.
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