Advantage Energy Ltd T.AAV

Alternate Symbol(s): AAVVF | T.AAV.DB

Energy Oil & Gas E&P

Advantage Energy Ltd. is a Canada-based energy producer. The Company is focused on development and delineation of its world class Montney natural gas and liquids resource at Glacier, Wembley/Pipestone, Valhalla and Progress, Alberta. Its Montney assets are located from approximately four to 80 kilometers (km)northwest of the city of Grande Prairie, Alberta. The Company land holdings consist of approximately 224 net sections (143,360 net acres) of liquids rich Montney lands at Glacier, Valhalla, Progress and Pipestone/Wembley. It also holds 163 net sections of Charlie Lake.

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Advantage Energy Ltd > First Quarter 2022 Financial and Operating Results

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Post by Betteryear2on Apr 28, 2022 10:35pm

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Post# 34641053

First Quarter 2022 Financial and Operating Results

(TSX: AAV)

CALGARY, AB, April 28, 2022 /CNW/ - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to report its first quarter 2022 results including record production, record adjusted funds flow(a) and continued financial and operational discipline. Profitability increased rapidly as commodity prices increased during the quarter and debt fell significantly below our $200 million target. As a result, Advantage has initiated a return-of-capital strategy whereby all free cash flow (in excess of capital spending and acquisitions) will be allocated to share buybacks, subject to market conditions and regulations.