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With the onset of winter, we experienced improved AECO natural gas prices, and as a result, the fourth quarter of 2024 generated more funds flow for Pine Cliff than Q3 2024. From a financial standpoint, our fourth quarter and 2024 annual highlights include:
Read Full Message2024 AND FOURTH QUARTER 2024 RESULTS
Results from 2024 are as follows:
• Generated $8.6 million ($0.02 per basic and fully diluted per share) and $38.0 million ($0.11 per basic and per fully diluted share) of adjusted funds flow for the three months and year ended December 31, 2024 compared to $9.7 million ($0.03 per basic and fully diluted share) and $58.7 million ($0.17 per basic and $0.16 per fully diluted share) for the same periods in 2023;
• Production averaged 22,738 Boe/d and 23,248 Boe/d during the three months and year-ended December 31, 2024, representing a 6% increase and 13% increase from the comparable periods in 2023;
• Proceeds from dispositions totaled $10.5 million in 2024, including the sale of a non-operated working interest in underutilized gas processing infrastructure in the fourth quarter;
• Capital expenditures totaled $8.9 million in 2024, including abandonment and reclamation expenditures of $6.4 million and maintenance capital of $2.5 million;
• Paid dividends of $5.4 million ($0.01 per basic and fully diluted share) and $25.6 million ($0.07 per basic and fully diluted share) during the three months and year ended December 31, 2024, compared to $11.6 million ($0.03 per basic and fully diluted share) and $46.0 million ($0.13 per basic and fully diluted share) for the same periods in 2023; and;
• Generated net loss of $5.6 million ($0.02 per basic and fully diluted share) and $21.4 million ($0.06 per basic and fully diluted share) for the three months and year ended December 31, 2024, compared to net income of $0.8 million ($0.00 per basic and fully diluted share) and $9.1 million ($0.03 per basic and $0.03 per fully diluted share) for the comparable periods in 2023.
Declaration Date: January 3, 2025
Record Date: January 15, 2025
Payment Date: January 31, 2025
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: February 5, 2025
Record Date: February 14, 2025
Payment Date: February 28, 2025
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: March 5, 2025
Record Date: March 14, 2025
Payment Date: March 31, 2025
Amount (C$ per common share): $0.005
Designated: Non-Eligible1
Declaration Date: April 2, 2025
Record Date: April 15, 2025
Payment Date: April 30, 2025
Amount (C$ per common share): $0.00125
Designated: Non-Eligible1
1 Please consult a tax advisor with any questions regarding the dividend designation between eligible and non-eligible dividends.
Declaration Date: January 2, 2024
Record Date: January 15, 2024
Payment Date: January 31, 2024
Amount (C$ 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): $0.005
Designated: Non-Eligible1
Declaration Date: December 3, 2024
Record Date: December 16, 2024
Payment Date: December 31, 2024
Amount (C$ 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
May 5, 2025: Q1/25 Earnings (After Market)
May 6, 2025: Q1 Results Webcast (9:00am MT / 11:00am ET)
May 20, 2025: Annual General Meeting
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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TBD
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