Natural Gas Mining News in Alberta

Perpetual Energy Inc.
Perpetual Energy Inc.
PMT
Alberta, Canada

PERPETUAL ENERGY INC. REPORTS YEAR-END 2023 FINANCIAL AND OPERATING RESULTS, Q1 2024 OUTLOOK AND RESERVES

Perpetual Energy Inc. reported its year-end 2023 financial and operating results, including a significant decrease in proved plus probable reserves to 26.0 MMboe, down from 31.6 MMboe in 2022. The net present value of these reserves also declined to $178.6 million from $302.0 million. This reduction was primarily attributed to the Mannville Disposition and lower price forecasts, alongside a decrease in the proportion of crude oil and NGL within the total reserves.

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Perpetual Energy Inc.
Perpetual Energy Inc.
PMT
Alberta

PERPETUAL ENERGY INC. REPORTS SECOND QUARTER 2023 FINANCIAL AND OPERATING RESULTS AND CONFIRMS 2023 GUIDANCE

Perpetual Energy Inc. reported its second quarter 2023 financial and operating results, showing a significant decrease in oil and natural gas revenue, net income, and adjusted funds flow compared to the prior year. Despite these financial declines and some production curtailment due to forest fires, the company reconfirmed its 2023 production guidance of 6,400 to 6,600 boe/d, supported by strong well performance from new East Edson drills. Net debt increased to $56.7 million, while available liquidity stood at $15.8 million at quarter-end.

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