Lycos Energy Inc. Announces Third Quarter Financial Results, Operations and Guidance Update

About this update from Lycos Energy Inc

[{"type":"text","content":"Lycos Energy Inc. Announces Third Quarter Financial Results, Operations and Guidance UpdateCalgary, Alberta--(Newsfile Corp. - November 18, 2024) - Lycos Energy Inc. (TSXV: LCX) (\"Lycos\" or the \"Company\") is pleased to announce its operating and financial results for the three and nine months ended September 30, 2024. Selected financial and operating information is outlined below and should be read with Lycos' unaudited condensed interim consolidated financial statements and related management's discussion and analysis (\"MD&A\") for the three and nine months ended September 30, 2024. These filings are available on SEDAR+ at www.sedarplus.ca and the Company's website at www.lycosenergy.com. Financial and Operating Highlights     Three months ended   Nine months ended           September 30,        September 30, ($ in thousands, except per share) 2024 2023  % change2024 2023 % change  Total petroleum and natural gas sales, net of                    blending(1) 33,986 24,087 41% 93,527 51,849 80% Adjusted funds flow from operations(1) 17,005 10,826 57% 44,623 20,452 118% Per share - basic $0.32 $0.27 19% $0.84 $0.51 65% Per share - diluted $0.31 $0.26 19% $0.81 $0.49 65% Net income  3,706 1,699 118% 12,537 23,547 (47)% Per share - basic $0.07 $0.04 75% $0.24 $0.59 (59)% Per share - diluted $0.07 $0.04 75% $0.23 $0.56 (59)% Capital expenditures - exploration &                    development 17,281 20,880 (17)% 57,989 44,476 30% Capital expenditures - net acquisitions &                    dispositions - 6,110 (100)% - 54,886 (100)% Adjusted working capital (net debt)(1) (31,727) (29,015) 9% (31,727) (29,015) 9%  Weighted average shares outstanding                    (thousands)             Basic 53,215 39,976 33% 53,134 39,838 33% Diluted 54,818 42,143 30% 54,910 42,127 30%  Average daily production:         &#x...

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