Advantage Energy Q3 Revenue Misses Expectations
Advantage Energy's Q3 revenue from natural gas and liquids sales missed analyst expectations.
Financial Highlights
- Adjusted funds flow increased, driven by hedging gains.
- Company expects Q4 production to average 79,000 to 83,000 boe/d.
- Advantage plans to reduce 2026 capital spending by $10 million.
- Company anticipates $500 million free cash flow over the next three years.
Operational Updates
- Advantage curtailed significant volumes of dry natural gas production due to weak AECO prices, prioritizing value over volumes.
- Exceptional initial production rates at Glacier three-well pad highlight well performance.
Outlook
Advantage sets new net debt target range of $400 million to $500 million.
Company anticipates $500 million free cash flow over the next three years.
Author's summary: Advantage Energy misses Q3 revenue expectations.
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