NuVista is pleased to note that operations and performance have been strong while both condensate and natural gas prices have continued at highly profitable levels. This results in a material increase to projected adjusted funds flow, tremendous progress in reducing our net debt, and high velocity of capital investment return. Capital spending and inflationary assumptions have been on track to prior estimates thus far.
NuVista’s capital expenditure guidance for 2022 is re-affirmed at a range of $355 – $375 million. We will revisit this in the fall to assess any changes to inflationary pressures. Additionally, if commodity pricing and production continue to perform well, we will review the optionality of moving some planned activities from the first quarter of 2023 to the fourth quarter of 2022 to again optimize supply chain management and execution outcomes.
Oil & Gas Permit Download
NuVista Wells Drilled since 2020
NuVista Facility Permits
NuVista Permit Summary
About NuVista
NuVista’s recent well performance has been strong, and all planned outages for the year have been concluded. We have set our third quarter production guidance range at 67,000 to 69,000 Boe/d. Full year 2022 guidance is reaffirmed at 67,000 – 69,000 Boe/d.
NuVista is an oil and natural gas company actively engaged in the exploration for, and the development and production of, oil and natural gas reserves in Western Canadian Sedimentary Basin. NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
NuVista Energy Ltd. acknowledges the value of inclusive relationships with the Indigenous communities with whom we work throughout Canada. By respecting the unique culture, history and rights of Indigenous communities, we will establish long-term relationships that are trust-based, respectful and beneficial to both parties.
We seek to establish these relationships by emphasizing areas in which we can have the greatest impact in our collaboration with Indigenous communities, which include the following areas of focus.
NuVista Energy News
NuVista Energy Ltd. 2023 Guidance
NuVista Energy Ltd. 2022 Guidance Update
