Vermilion Energy Inc T.VET

For Comparison only when VET earnings are reported.

[ronster65]

Highlights for ARX

Fourth quarter 2021 results

 

• ARC recognized net income of $678-million (96 cents per share), compared with net income of $121-million (34 cents per share) during the fourth quarter of 2020.
• ARC delivered average production of 345,831 boe (barrels of oil equivalent)(1)(2) per day (62 per cent natural gas and 38 per cent crude oil and liquids) to generate cash flow from operating activities of $669-million and funds from operations of $834-million (3) ($1.19 per share)(4).
• ARC's market diversification activities and enhanced scale continued to drive strong price realizations. ARC's average realized natural gas price of $6.45 per Mcf (4)(thousand cubic feet) was $1.51 per Mcf greater than the average AECO 7A monthly index price, while ARC's average realized condensate price was $96.90 per barrel (4).
• Cash flow used in investing activities was $269-million. ARC invested $375-million into capital expenditures (5), which were allocated across the company's Alberta and northeast British Columbia assets, and included accelerating approximately $50-million of its 2022 capital expenditure budget for Attachie West phase I to begin securing long-lead items. Accordingly, ARC's 2022 capital expenditure guidance has been lowered to a range of $1.15-billion to $1.25-billion.
• ARC generated free funds flow of $459-million (5) (65 cents per share)(6), returning $289-million (41 cents per share), or 63 per cent to shareholders through a combination of dividends and share repurchases. The remaining free funds flow generated in the period was used to strengthen ARC's balance sheet, with ARC exiting 2021 with long-term debt of $1.7-billion and net debt of $1.8-billion (3) or 0.8 times funds from operations (3).

 

Year-end 2021 results

 

• ARC recognized net income of $787-million ($1.25 per share) in 2021, compared with a net loss of $547-million ($1.55 per share) in 2020. Cash flow from operating activities was $2.0-billion and funds from operations were $2.4-billion ($3.85 per share).
• ARC maintained its industry-leading safety performance, surpassing eight years without an employee lost-time incident and delivered an operating expense of $3.86 per boe (4), the lowest annual operating expense per boe in the company's 25-year history, reflecting the low-cost structure associated with owning and operating its infrastructure.
• ARC executed its 2021 capital program safely and efficiently. Cash flow used in investing activities totalled $808-million, with capital expenditures of $1,062-million delivering record annual average production of 302,003 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids).
• ARC successfully integrated Seven Generations and has now captured approximately $190-million in synergies, significantly surpassing initial expectations of $110-million in annual savings due to synergies of the business combination.
• ARC advanced its marketing strategy by entering into its first long-term gas supply agreement to deliver approximately 150 million cubic feet (MMcf) per day of natural gas from ARC's Sunrise facility to an LNG Canada participant. The agreement, as previously announced in November, 2021, will commence with the start-up of LNG Canada.
• Free funds flow per share was the highest in ARC's 25-year history. ARC generated $1.4-billion ($2.16 per share) of free funds flow, which included nine months of contribution from the Kakwa asset acquired through the business combination. ARC delivered an 18 per cent return on average capital employed (7) (ROACE).
• ARC declared dividends of $181-million or 28.6 cent sper share (4) in 2021, and since September, 2021, has repurchased 33.6 million of its common shares outstanding at a weighted average price of $11.34 per share for total consideration of $381-million.

 

Year-end 2021 reserves (1)(8)

 

• ARC nearly doubled its reserves volumes and tripled its reserves value through high-value liquids additions from the business combination and strong organic additions across ARC's portfolio. Year-end 2021 proved producing (PDP) reserves increased by 88 per cent to 503 million boe (MMboe), total proved (TP) reserves increased by 96 per cent to 1,185 MMboe and proved plus probable (2P) reserves increased by 90 per cent to 1,761 MMboe at year-end 2021.
• ARC's before-tax net present value (NPV) of 2P reserves, discounted at 10 per cent, substantially increased to $15.9-billion or approximately $23.00 per share (9) at Dec. 31, 2021. The year-over-year increase was driven by additions from the business combination, positive organic technical revisions and stronger average commodity prices. ARC's 2P NPV is based on the development of approximately 15 per cent of the company's total internal inventory estimate; Attachie comprises less than 4 per cent of total 2P locations.

[EnergyWatcher55]

This is not the ARX board! Pls pump your stock somewhere else.

[ronster65]

Its for COMPARISON. Its called extrapulating information to see where VET might go. Its not a Pump for ARX although any intelligent INVESTOR would hold every top 10 Oil and Gas Stock on the TSX right now. 

[EnergyWatcher55]

ARX and VET are DIFFERENT companies. Go pump it elsewhere!!!!

[ronster65]

Your are an idiot. ARX's get paid the same price for Nat Gas and and Barrel of Oil as does VET. Take those numbers and apply them to the LAST numbers VET published. Did you just join this board to show your incompetence?