Highlights from the six-months ended June 30, 2022 include:
- generated $55.8 million ($0.16 per basic and $0.15 per fully diluted share) and $88.1 million ($0.26 per basic and $0.25 per fully diluted share) of adjusted funds flow for the three and six months ended June 30, 2022, compared to $9.5 million ($0.03 per basic and fully diluted share) and $19.5 million ($0.06 per basic and fully diluted share) for comparable periods in 2021, increases of 587% and 452%, respectively;
- generated net earnings of $50.2 million ($0.15 per basic and $0.14 per fully diluted share) and $65.6 million ($0.19 per basic and $0.18 per fully diluted share) for the three and six months ended June 30, 2022, compared to a net loss of $0.7 million ($0.00 per basic and fully diluted share) and a net loss of $1.4 million ($0.00 per basic and fully diluted share) for comparable periods in 2021;
- change in positive net cash (net debt) position of $72.1 million from December 31, 2021 to June 30, 2022;
- production averaged 21,331 Boe/d and 20,866 Boe/d for the three and six months ended June 30, 2022, 18% and 15% higher respectively than comparable periods in 2021;
- repaid all debt during the six months ended June 30, 2022, including $30.0 million of term debt, $6.0 million of related party debt and $6.0 million of promissory notes; and
- paid the Company’s first monthly dividend on June 30, 2022 of $0.0083 per common share.
