Nuvista Energy sees FY24 average production 83.5K-86K boe/d

The company said, “We are extremely well-positioned with top-tier assets and highly favorable economics. Our disciplined execution has enabled us to achieve growth in production and adjusted funds flow, while also generating positive free adjusted funds flow. This has allowed us to continue to return capital to our shareholders through the repurchase of shares. Our high condensate weighting, for which pricing has remained supportive, continues to drive superior economics despite the weakness in natural gas prices experienced for much of 2024. We continue to execute according to our plans, with well and facility outperformance in several areas. As such, we reaffirm our 2024 capital expenditure guidance target of approximately $500 million, allowing us to maintain the efficiencies of a steady 2-drill-rig execution. Recent average weekly production has reached a record level above 90,000 Boe/d and our guidance for the fourth quarter of 2024 is 89,000 – 91,000 Boe/d. This includes the minor impact associated with our decision to temporarily shut in the very small amount of our production which was exposed to AECO when those prices reached historically low levels at the start of the fourth quarter. We are pleased that despite the unplanned impacts of third-party downtime in the third quarter, we are able to reaffirm our previously announced full-year 2024 guidance range of 83,500 – 86,000 Boe/d.”