Arc Resources GAAP EPS of C$0.40; reaffirms FY24 outlook
- Arc Resources (OTCPK:AETUF) Press Release: Q2 GAAP EPS of $0.40 CAD.
- ARC achieved production in the second quarter of 2024 of 330,046 barrels of oil equivalent per day (65% natural gas and 35% crude oil and liquids), in line with the high end of the second quarter production guidance range of 325,000 barrels of oil equivalent per day. To 330 thousand barrels of oil equivalent per day.
- ARC generated funds from operations of C$503 million ($0.84 per share) and total capital expenditures of C$532 million, thus recording free cash flow of C$(29) million. Or ($0.05 CAD) per share.
- ARC generated cash flow from operating activities of C$543 million ($0.91 per share).
- The company’s guidance for 2024 remains unchanged. Capital expenditures are expected to range from C$1.75 billion to C$1.85 billion, and production is expected to average 350,000 to 360,000 barrels of oil equivalent per day (63% natural gas and 37% crude oil and liquids).