Business

Advantage Announces 2024 Budget and Updated Three-Year Strategic Plan

Advantage Announces 2024 Budget and Updated Three-Year Strategic Plan Canada NewsWire ...

articleAdvantage Energy LtdNovember 30, 20234/company/advantage-oil-and-gas-ltd/news/advantage-announces-2024-budget-and-updated-three-year-strategic-plan
Advantage Announces 2024 Budget and Updated Three-Year Strategic Plan

About this update from Advantage Energy Ltd

[{"type":"text","content":"\n \n \n \n Advantage Announces 2024 Budget and Updated Three-Year Strategic Plan\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen3{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; TEXT-ALIGN: CENTER; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen4{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: TOP; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prngen7{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 1pt; BORDER-RIGHT:black 1pt; BORDER-BOTTOM:black 1pt; BORDER-LEFT:black 1pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n (TSX: AAV)\n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Nov. 30, 2023\n \n \n /CNW/ - Advantage Energy Ltd. (\"Advantage\", the \"Corporation\", \"us\", \"we\" or \"our\") is pleased to announce our 2024 budget and provide an update as we enter the second year of our three-year strategic plan.\n \n \n Advantage's 2024 capital program continues our focus on growing adjusted funds flow (\"AFF\")\n \n a\n \n per share via high rate-of-return development drilling. Top-line production is planned to grow by 10% with all free cash flow (\"FCF\")\n \n a\n \n allocated to our share buyback program.\n \n \n \n 2024 Budget Highlights\n \n \n \n \n AFF per share\n \n a\n \n is expected to grow by approximately 20% year-over-year, based on strip pricing dated\n \n November 16, 2023\n \n and planned share buybacks.\n \n \n Production is expected to average between 65,000 and 68,000 boe/d and the corporate decline rate is expected to remain at approximately 24%.\n \n \n Cash used in investing activities is planned to be between\n \n $260 mill...

More updates from Advantage Energy Ltd