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- NuVista Energy (OTCPK:NUVSF) achieved a record quarterly production of 85,900 Boe/d for the quarter ended December 31, surpassing the fourth quarter guidance range of 82,000 – 84,000 Boe/d.
- Anticipated production for the first quarter of 2024 is set to range between 77,000 – 80,000 Boe/d, with a substantial increase expected as new pads come online throughout the year.
- Q4 production volume comprised about 31% condensate, 9% NGLs, and 60% natural gas.
- The estimated full-year 2023 production stands at approximately 77,200 Boe/d, surpassing the earlier projection of 76,000 – 77,000 Boe/d.
- In 2023, NuVista Energy (OTCPK:NUVSF) repurchased and subsequently canceled 15.3 million common shares, bringing the total to 28.8 million common shares since the inception of the share repurchase program in mid-2022, with a weighted average price of $11.85 per share.
- The net capital expenditures for 2023 have increased from the originally expected $475 million to approximately $520 million. The net debt for year-end 2023 is estimated to be $180 million, significantly below the company’s soft ceiling of about $350 million.
- The production guidance for 2024 remains steady at 83,000 – 87,000 Boe/d, along with an expected investment of approximately $500 million in capital expenditures.
- NVA:CA closed +1.01% at $10.92
- Source: Press Release
