Bullboard - Stock Discussion Forum ARC Resources Ltd T.ARX

Alternate Symbol(s): AETUF

Energy Oil & Gas E&P

ARC Resources Ltd. is a Canadian energy company. It is focused on the exploration, development, and production of unconventional natural gas, condensate, natural gas liquids (NGLs), and crude oil in western Canada. Its operations are focused in the Montney region in Alberta and northeast British Columbia. Its operations in Alberta are located near Grande Prairie and the region includes Kakwa... see more

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TSX:ARX - Post Discussion

ARC Resources Ltd > ARX - Share Buybacks Halted Jan 1 2023

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Post by NothingBurger on Jan 31, 2023 8:52pm

ARX - Share Buybacks Halted Jan 1 2023

Could someone please tell me why ARX stopped the share buyback on January 1, 2023? The new buyback authorization was just renewed in September 2022 for up to 10% of the total shares outstanding. The company was purchasing shares hand over fist in Sept - Dec 2022 at $18-20 per share until December 31, 2022. Since then it has come to a grinding halt.

It is not because of blackout for Q4 earnings as they have a mechanism in place to allow for scheduled purchases during blackout periods and last January they were also buying shares back around this price hand over fist.

I sure hope they are not saving their dry powder for some acquisition they are pursuing.

Has anybody asked management about this?
Regards,

Northing Burger

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Comment by Quintessential1 on Jan 31, 2023 9:47pm

They haven't stopped. They aren't required to report buybacks until the 10th of the next month. They reported December's buybacks on January 9th and arent required to file a report for their January buybacks until Feb 10. My guess is they will file on the 9th again right before they report earnings. I expect them to have bought back a lot. Hopefully they blew the ...more

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