a light in the tunnel ?Strathcona Resources Ltd. (SCR.TO) reported overnight Monday operating
earnings of $289.9 million, rising year over year from $284.3 million.
Oil and natural gas sales jumped to $1.06 billion from $875.3 million while
production grew to 147,461 boe/d from 119,829 boe/d.
The company expects its 2023 production to average about 155 mboe/d, including
185 mboe/d in the fourth quarter. Capital expenditures were estimated at $1.0
billion on a full-year basis.
The board approved a 2024 capital budget of about $1.3 billion, with
production expected at 190 mboe/d to 195 mboe/d.
The company gained 2.3% yesterday.