Fresh Tracks Therapeutics Inc V.BBI

RE:Pipestone Energy Corp. Reports Fourth Quarter and Full Year

[fauxtomato]

That's last years

https://money.tmx.com/en/quote/PIPE/news/6506757767046709

This is this years

FOURTH QUARTER 2021 CORPORATE HIGHLIGHTS

• In Q4 2021, Pipestone achieved record average quarterly production totaling 28,623 boe/d (30% condensate, 44% total liquids), representing a 16% quarterly increase over Q3 2021, and a 61% increase over Q4 2020. Full year 2021 production for the Company totaled 24,584 boe/d (31% condensate, 45% total liquids), achieving previously announced guidance of 24,000 – 26,000 boe/d, representing a 58% year-over-year growth in average daily production volumes;
• As a result of its continued production growth combined with improving commodity prices during the quarter, the Company generated record revenue of $137.3 million, nearly tripling revenue from Q4 2020 of $45.9 million and increasing revenue from Q3 2021 by 37% or $37.1 million;
• The Company realized continued improvement in operating netback ( 1) to a corporate record of $25.06/boe, an increase of 14% over Q3 2021 and a 148% increase over Q4 2020. Excluding the realized loss on commodity risk management contracts of $8.45/boe, the Company’s operating netback ( 1) for Q4 2021 was $33.51/boe;
• The Company also achieved record adjusted funds flow from operations ( 1) of $58.9 million ($0.31 per share basic and $0.21 per share fully diluted), representing more than a 5-fold increase to adjusted funds flow from operations (1) when compared to $11.1 million in Q4 2020 and an increase of 35% or $15.2 million from Q3 2021 adjusted funds flow from operations (1) of $43.7 million;
• The Company generated strong returns on invested capital, with Q4 2021 annualized ROCE ( 1) and CROIC (1) of 22.8% and 26.1%, respectively, as compared to Q4 2020 annualized ROCE (1) and CROIC (1) of 1.7% and 8.1%;
• As previously announced, in Q4 2021, the company commenced its inaugural Normal Course Issuer Bid (“ NCIB ”) and purchased 949,100 common shares for cancellation at a weighted average price of $3.60 per share for a total consideration of $3.4 million, including related commissions and fees. Subsequent to year-end, and up to the date of this release, the Company has purchased an additional 792,600 shares for cancellation at a weighted average price of $4.64 per share. Pipestone intends to continue to utilize its NCIB throughout 2022 as part of its commitment to providing shareholder returns.