Financial and Operating Highlights
Three months ended
September 30,
Percent Change
Nine months ended
September 30,
Percent Change
2024
2023
2024
2023
Financial (thousands of dollars except share data)
Sales, net of blending (1) (4)
151,740
144,003
5
436,163
351,133
24
Adjusted funds flow from operations (2)
84,185
80,887
4
248,654
206,279
21
Per share - basic (3)
0.35
0.34
3
1.05
0.88
19
- diluted (3)
0.35
0.34
3
1.04
0.87
20
Cash flows provided by operating activities
95,272
85,568
11
240,721
212,626
13
Per share - basic
0.40
0.36
11
1.02
0.90
13
- diluted
0.40
0.36
11
1.01
0.90
12
Net income
47,634
49,677
(4)
139,121
110,603
26
Per share - basic
0.20
0.21
(5)
0.59
0.47
26
- diluted
0.20
0.21
(5)
0.58
0.47
23
Capital expenditures (1)
58,196
70,208
(17)
174,180
203,796
(15)
Adjusted working capital (2)
64,411
35,921
79
Shareholders' equity
684,486
587,380
17
Dividends declared
23,767
23,638
1
71,261
70,763
1
Per share
0.10
0.10
-
0.30
0.30
-
Weighted average shares (thousands)
Basic
237,484
236,191
1
236,285
235,305
-
Diluted
239,735
239,167
-
238,427
237,683
-
Shares outstanding, end of period (thousands)
Basic
237,665
236,384
1
Diluted (5)
241,115
241,175
-
Operating (6:1 boe conversion)
Average daily production
Heavy crude oil (bbls/d)
19,718
16,902
17
18,689
15,775
18
Natural gas (mmcf/d)
3.4
6.1
(44)
6.8
9.1
(25)
Natural gas liquids (bbl/d)
64
103
(38)
72
100
(28)
Barrels of oil equivalent (9) (boe/d)
20,342
18,027
13
19,890
17,398
14
Average daily sales (6) (boe/d)
20,329
17,862
14
19,850
17,331
15
Netbacks ($/boe) (3) (7)
Operating
Sales, net of blending (4)
81.13
87.63
(7)
80.19
74.22
8
Royalties
(15.74)
(16.26)
(3)
(14.88)
(13.06)
14
Transportation
(5.90)
(5.32)
11
(5.60)
(5.43)
3
Production expenses
(7.46)
(7.43)
-
(7.25)
(7.11)
2
Operating netback (3)
52.03
58.62
(11)
52.46
48.62
8
Realized gains on financial derivatives
0.18
0.18
-
1.04
1.66
(37)
Operating netback, including financial derivatives (3)
