adminBy Adam L. Cataldo
ARC Resources, a dividend-paying energy company based in Canada, expects production to increase by the equivalent of as much as 50,000 barrels of oil per day through 2025.
On the outlook for production through 2025, subject to board approval:
In 2025, total production 375,000 to 400,000 boe/day. Natural-gas percentage of production 60%, crude oil and liquids as a percentage of production 40%.
Total production 350,000 to 360,000 boe/day in 2024. Natural-gas percentage of production 63%, crude oil and liquids as a percentage of production 37%.
In 2023, total production 350,000 to 355,000 boe/day. Natural-gas percentage of production 62%, crude oil and liquids as a percentage of production 38%.
On production guidance for 2024:
“ARC’s 2024 corporate guidance is based on various commodity price scenarios and economic conditions; certain guidance estimates may fluctuate with commodity price changes and regulatory changes,” the company said. Crude oil and condensate 87,000 to 91,500 bbl/day, natural gas 1,325 to 1,340 MMcf/day, NGLs 42,000 to 45,000 bbl/day.
On production guidance for 2024 and ethane sales:
“Production guidance in 2024 incorporates the anticipated expiry of an ethane sales contract in the second quarter that will reduce reported NGL production by approximately 5,000 barrels per day on an annualized basis in 2024. As a result, ARC expects to re-inject ethane into its natural-gas stream resulting in an expected increase in revenue from sales of higher heat content natural gas that will offset the impact to funds from operations.”
Write to Adam Cataldo at [email protected]
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