Advantage Energy Ltd. (TSE:AAV) has released an update.
Advantage Energy Ltd. closed 2023 with record production and operational success, including a strategic acquisition and efficient management of a plant turnaround. The company also reduced its 2024 capital expenditure forecast by $40 million without affecting production or adjusted funds flow per share targets, demonstrating strong financial discipline and commitment to shareholder value through significant share buybacks. Despite a net debt increase, Advantage reported substantial cash flow and net income, underscoring a robust financial performance in 2023.
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