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The third quarter was challenging for Canadian natural gas producers as above average storage levels and stubbornly high production combined to drive the average AECO gas price down to the lowest level in more than a decade. Fortunately, Pine Cliff’s liquids production, combined with an elevated hedge position this summer, supported our cash flow.
Read Full MessageFrom a financial standpoint, our third quarter highlights included:
Third Quarter 2024 Summary1
· Production averaged 22,546 Boe/d2 and 23,363 Boe/d3 for the three and nine months ended September 30, 2024, 8% and 15% higher than the comparable periods in 2023. Production in the third quarter was temporarily impacted by a number of maintenance-related outages at third party facilities;
· Generated $8.1 million ($0.02 per basic and fully diluted share) and $29.4 million ($0.08 per basic and fully diluted share) of adjusted funds flow for the three and nine months ended September 30, 2024, compared to $17.1 million ($0.05 per basic and fully diluted share) and $49.0 million ($0.14 per basic and fully diluted share) for the comparable periods in 2023; and
· Paid dividends of $5.4 million ($0.02 per basic and fully diluted share) and $20.2 million ($0.06 per basic and fully diluted share) during the three and nine months ended September 30, 2024, compared to $11.6 million ($0.03 per basic and fully diluted share) and $34.4 million ($0.10 per basic and fully diluted share) during the comparable periods in 2023.
Declaration Date: January 2, 2024
Record Date: January 15, 2024
Payment Date: January 31, 2024
Amount (C$ per common share): $0.01083
Designated: Eligible1
Declaration Date: February 1, 2024
Record Date: February 15, 2024
Payment Date: February 29, 2024
Amount (C$ per common share): $0.01083
Designated: Eligible1
Declaration Date: March 4, 2024
Record Date: March 15, 2024
Payment Date: March 28, 2024
Amount (C$ per common share): $0.005
Designated: Eligible1
Declaration Date: April 1, 2024
Record Date: April 15, 2024
Payment Date: April 30, 2024
Amount (C$ per common share): $0.005
Designated: Eligible1
Declaration Date: May 1, 2024
Record Date: May 15, 2024
Payment Date: May 31, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: June 3, 2024
Record Date: June 14, 2024
Payment Date: June 28, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: July 3, 2024
Record Date: July 15, 2024
Payment Date: July 31, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: August 2, 2024
Record Date: August 15, 2024
Payment Date: August 30, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: September 4, 2024
Record Date: September 16, 2024
Payment Date: September 27, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: October 2, 2024
Record Date: October 15, 2024
Payment Date: October 31, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: November 4, 2024
Record Date: November 15, 2024
Payment Date: November 29, 2024
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
1 Please consult a tax advisor with any questions regarding the dividend designation between eligible and non-eligible dividends.
Declaration Date: January 5, 2023
Record Date: January 16, 2023
Payment Date: January 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: February 1, 2023
Record Date: February 15, 2023
Payment Date: February 28, 2023
Amount (C$ per common share): $0.01083
Declaration Date: March 2, 2023
Record Date: March 15, 2023
Payment Date: March 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: April 3, 2023
Record Date: April 14, 2023
Payment Date: April 28, 2023
Amount (C$ per common share): $0.01083
Declaration Date: May 2, 2023
Record Date: May 15, 2023
Payment Date: May 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: June 1, 2023
Record Date: June 15, 2023
Payment Date: June 30, 2023
Amount (C$ per common share): $0.01083
Declaration Date: July 5, 2023
Record Date: July 14, 2023
Payment Date: July 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: August 1, 2023
Record Date: August 15, 2023
Payment Date: August 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: September 5, 2023
Record Date: September 15, 2023
Payment Date: September 29, 2023
Amount (C$ per common share): $0.01083
Declaration Date: October 2, 2023
Record Date: October 16, 2023
Payment Date: October 31, 2023
Amount (C$ per common share): $0.01083
Declaration Date: October 31, 2023
Record Date: November 15, 2023
Payment Date: November 30, 2023
Amount (C$ per common share): $0.01083
Declaration Date: December 1, 2023
Record Date: December 15, 2023
Payment Date: December 29, 2023
Amount (C$ per common share): $0.01083
Declaration Date: May 4, 2022
Record Date: June 15, 2022
Payment Date: June 30, 2022
Amount (C$ per common share): $0.0083
Declaration Date: July 4, 2022
Record Date: July 15, 2022
Payment Date: July 29, 2022
Amount (C$ per common share): $0.0083
Declaration Date: August 3, 2022
Record Date: August 15, 2022
Payment Date: August 31, 2022
Amount (C$ per common share): $0.01
Declaration Date: September 6, 2022
Record Date: September 15, 2022
Payment Date: September 30, 2022
Amount (C$ per common share): $0.01
Declaration Date: October 4, 2022
Record Date: October 14, 2022
Payment Date: October 31, 2022
Amount (C$ per common share): $0.01
Declaration Date: November 2, 2022
Record Date: November 15, 2022
Payment Date: November 30, 2022
Amount (C$ per common share): $0.01
Declaration Date: December 1, 2022
Record Date: December 15, 2022
Payment Date: December 30, 2022
Amount (C$ per common share): $0.01083
November 13, 2024: Q3/24 Earnings (After Market)
November 14, 2024: Q3 Results Webcast (9:00am MT / 11:00am ET). Link: https://www.gowebcasting.com/13841
Nov 1, 2022 - Dec 31, 2022
Nov 1, 2022 - Mar 31, 2023
Nov 1, 2022 - Oct 31, 2023
Apr 1, 2023 - Oct 31, 2023
Nov 1, 2022 - Mar 31, 2023
Nov 1, 2022 - Mar 31, 2023
Apr 1, 2023 - Oct 31, 2023
Nov 1, 2022 - Dec 31, 2022
Jan 1, 2023 - Mar 31, 2023
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