Reports Q3 sales C$964.68M vs. C$538.53M a year ago. Q3 2022 fund flows from operations was C$508M, or C$3.10/basic share, an increase of 12% from the prior quarter, driven by higher European natural gas prices. Production in Q3 averaged 84,237 boe/d, a decrease of 1% from the previous quarter, primarily due to fire-related downtime in France and third-party downtime in Canada. The company said: "Despite political headwinds during the quarter, we delivered another quarter with strong financial results. Q3 2022 production of 84,237 boe/d was in line with the prior quarter. Oil prices weakened in the third quarter, however European gas prices nearly doubled in Q3 2022 compared to the prior quarter which contributed to record quarterly FFO of $508 million, a 12% increase over the prior quarter. Capital spending increased to $184 million in the third quarter primarily related to the offshore Australia drilling campaign which was delayed from the previous quarter, resulting in FCF of $324 million. Pro forma Q3 2022 FFO and FCF incorporating the incremental 36.5% ownership in Corrib was $611 million and $426 million, respectively."
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