Advantage Energy Ltd. announces that effective today, two new independent members, Messrs. Lawrence Massaro and Daniel Farb, have been appointed to the Board. The following is a brief biography of each of these new directors. Lawrence Massaro Lawrence Massaro, known as Larry, was the Chief Executive Officer of Silverado Oil & Gas LLC from 2019 to 2022. Prior thereto, Mr. Massaro was the Chief Financial Officer and [...]
Advantage Energy Ltd. is pleased to report 2024 year-end financial and operating results as well as reserves. Advantage achieved exceptional results during 2024, with record production, significant liquids growth, strong reserves results, significantly improved per-share profitability, a highly accretive acquisition and successful integration of the new assets. 2024 Financial Highlights Cash provided by operating [...]
Advantage Energy Ltd. announces that on February 13, 2025, Advantage formed a special committee of independent directors to review strategic opportunities that are in the best interests of Advantage and its shareholders and that may become available to the Corporation in 2025. The Special Committee is comprised of Messrs. Norman MacDonald , John Festival and David Smith. Advantage is cognizant of the fact that its [...]
Advantage Energy Ltd. announces that as part of its ongoing Board of Directors renewal process, Mr. Stephen Balog, the current Chair of the Board and director of the Corporation will be retiring from the Board at the Corporation's next annual general meeting of shareholders. Replacing Mr. Balog as Chair of the Board will be Mr. John Festival, who has been a director of Advantage since March 12, 2024. Mr. Festival has a [...]
Advantage Energy Ltd. is pleased to announce its 2025 budget and provide an updated three-year plan. Advantage's 2025 capital program continues our focus on growing adjusted funds flow a per share via high rate-of-return development drilling. Production is expected to increase by approximately 16% in 2025, reflecting an organic growth rate of 9% plus a full year of incremental production associated with assets acquired [...]
Advantage Energy Ltd. plans to release its 2025 budget and updated three-year plan before the open of North American markets on Tuesday, December 10, 2024. Advantage's management team will also host a virtual Investor Day on Tuesday, December 10, 2024, at 8:00 am Mountain Time . The event will be streamed via webcast at https://app.webinar.net/eV1q8WrzmNa. If you join by webcast and would like to ask a question over the [...]
Advantage Energy Ltd. is pleased to report 2024 third quarter financial and operating results including record production, strong liquids performance, and lower operating costs. 2024 Third Quarter Financial Highlights Cash provided by operating activities of $46.7 million. Adjusted funds flow of $54.7 million or $0.33/share for Advantage and $52.3 million or $0.31/share consolidated. Cash used in investing activities was [...]
Advantage Energy Ltd. announces it has begun strategic production curtailments of up to 130 mmcf/d of dry gas in response to unusually low Alberta natural gas prices. Curtailments began during September and are planned to continue during the fourth quarter until such time as pricing recovers. Consistent with our strategic priorities of maximizing free cash flow and reducing net debt, production curtailment levels are [...]
Advantage Energy Ltd. is pleased to announce the appointment of David G. Smith to the Board of Directors effective September 1, 2024. Mr. Smith has 40 years of experience in the western Canadian oil and gas industry including an extensive career at Keyera Corp. where he played a key role in leading the development and growth of Keyera over twenty years to become one of the largest mid-stream operators in Canada. He [...]
Entropy Inc. , a subsidiary of Advantage Energy Ltd. , is pleased to announce the appointment of Mr. Sanjay Bishnoi as Chief Executive Officer. Mr. Bishnoi will start in his new role on September 23, 2024. After founding and leading Entropy since 2020, Mr. Michael Belenkie will step down from Entropy's President and CEO responsibilities but will remain as Chairman of the Board of Directors providing continued leadership [...]
Advantage Energy Ltd. is pleased to report 2024 second quarter financial and operating results. 2024 Second Quarter Financial Highlights Closed the acquisition of certain Charlie Lake and Montney assets for cash consideration of $445.5 million on June 24, 2024 . Financing activities for the Acquisition included: Issued 5.9 million common shares for gross proceeds of $65.0 million. Issued $143.8 million of 5.0 [...]
Leading Canadian Companies Enter Pre-FEED for Carbon Capture Utilization and Sequestration Deployment in Alberta VANCOUVER, BC and CALGARY, AB, July 17, 2024 /CNW/ - Methanex Corporation , one of the world's largest methanol producers and suppliers and Entropy Inc. , a leader in carbon capture and storage solutions, have entered into an agreement to invest in a Preliminary Front-End Engineering and Design study for carbon [...]
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