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I hope everyone is doing well. Pine Cliff has been busy integrating our acquisition of Certus Oil and Gas, which closed on December 13th. We are pleased to report that the performance of these assets thus far has exceeded our expectations. Concurrently, we are managing the challenges posed by the unusually mild winter weather and its impact on the North American natural gas market, where prices have been halved in recent months.
Read Full MessageKey highlights from our fourth quarter and the entirety of 2023 include:
• exited Q4 and the 2023 year with production at ~26,000 Boe/d1 , the highest yearly exit production rate in Pine Cliff’s 12 year history;
• generated $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) of adjusted funds flow2 for the three months and year-ended December 31, 2023, compared to $40.2 million ($0.11 per basic and fully diluted share) and $163.2 million ($0.47 per basic and $0.45 per fully diluted share) for the comparable periods in 2022;
• net present value for proved plus probable reserves of $476.8 million, discounted at 10%, an increase of $67 million or 16.3%, from December 31, 2022, primarily as a result of the Certus acquisition;
• paid dividends of $11.6 million ($0.03 per basic and fully diluted share) and $46.0 million ($0.13 per basic and fully diluted share) during the three and 12 months ended December 31, 2023, compared to $10.8 million ($0.03 per basic and diluted share) and $23.6 million ($0.07 per basic and diluted share) for the comparable periods in 2022; and
• production averaged 21,454 Boe/d3 and 20,660 Boe/d3 for the three and the year ended December 31, 2023, 2% higher and 2% lower respectively than the comparable periods in 2022.
Declaration Date: January 2, 2024
Record Date: January 15, 2024
Payment Date: January 31, 2024
Amount (C$ per common share): $0.01083
Declaration Date: February 1, 2024
Record Date: February 15, 2024
Payment Date: February 29, 2024
Amount (C$ per common share): $0.01083
Declaration Date: March 4, 2024
Record Date: March 15, 2024
Payment Date: March 28, 2024
Amount (C$ per common share): $0.005
Declaration Date: April 1, 2024
Record Date: April 15, 2024
Payment Date: April 30, 2024
Amount (C$ per common share): $0.005
Declaration Date: January 5, 2023
Record Date: January 16, 2023
Payment Date: January 31, 2023
Amount (C$ 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 7, 2024: Q1/24 Earnings (After Market)
May 16, 2024: Pine Cliff Annual and Special Meeting at 11:00AM MDT (1:00 PM EDT) at the offices of Bennett Jones LLP in Calgary.
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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Mike Mueller
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Christopher Jones
TBD
Conrad Bereznicki
Josef Schachter
Cody Kwong
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