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New Stratus Energy Announces Consolidated Financial Results for the Nine Months Ended December 31, 2022
Calgary, Alberta--(Newsfile Corp. - May 2, 2023) - New Stratus Energy Inc. (TSXV: NSE) (" New Str...
About this update from New Stratus Energy Inc
[{"type":"text","content":"New Stratus Energy Announces Consolidated Financial Results for the Nine Months Ended December 31, 2022Calgary, Alberta--(Newsfile Corp. - May 2, 2023) - New Stratus Energy Inc. (TSXV: NSE) (\"New Stratus\" or the \"Corporation\") is pleased to announce its consolidated financial and operating results for the nine months ended December 31, 2022.Nine Month Highlights :Revenues of $93.3 million Funds flow from operations1 of $25.1 million ($0.21 per share)Adjusted EBITDA1 of $30.9 million ($0.26 per share) Adjusted working capital 1of $34.6 million ($0.30 per share).(1) This is a non-GAAP financial measure or non-GAAP ratio. Refer to the disclosure under the heading \"Non-GAAP and Other Financial Measures\" within press release.As previously disclosed, the Corporation has changed its year end from March 31 to December 31 effective this reporting period, accordingly a stub 9 month period ended December 31, 2022 is presented, compared with a 12 month period for the year ended March 31, 2022.Financial and Operational Summary (in Canadian dollars, expect per share information) Nine months December 31, 2022 Twelve months March 31, 2022       Revenue $93,304,844 $25,712,107       Funds Flow from Operations(1) $25,053,056 $4,866,452 Per Share - Basic $0.21 $0.06 Per Shares - Diluted(2) $0.21 $0.06       Adjusted EBITDA(1) $30,924,310 $10,783,906 Per share - Basic $0.26 $0.13 Per Share - Diluted(2) $0.26 $0.10       Net Income (loss) $2,359,634 $14,838,761 Per share - Basic $0.02 $0.17 Per Share - Diluted(2) $0.02 $0.14 Cash & Cash Equivalents $21,160,711 $15,984,911 Adjusted Working Capital1) $34,615,166 $29,145,628       Operating           Average Daily Production           Heavy Crude Oil (bopd) 14,884 15,407       Consumption Oil (bopd) 5,210 5,392       Sales production 4,335 4,573       Operating Netback(3) (C$/bopd)           Service Tariff $51.34 $48.40       Carry forward recovery $18.59 $22.10       Net Revenue $69.94 $70.50       Operational Costs $35.90 $22.80       Gross Margin(1) $34.04 $47.70 (1) Non-GAAP financial measure. Refer to \"Non-GAAP and Other Financial Measu...