CA - Arc Resources GAAP EPS of C$1.32

• Arc Resources press release ( OTCPK:AETUF ): Q3 GAAP EPS of C$1.32.
• ARC delivered quarterly production of 342,034 boe per day (60 per cent natural gas and 40 per cent crude oil and liquids), cash flow from operating activities of C$1,104M, and generated funds from operations of C$953 million (C$1.45 per share).
• ARC generated free funds flow of C$580M (C$0.89 per share) based on C$373 million invested into capital expenditures.
• ARC distributed 94 per cent or C$544M (C$0.83 per share) of free funds flow to shareholders during the third quarter of 2022 through a combination of dividends and share repurchases under its normal course issuer bid.
• Capital spending and production guidance for 2022 remain unchanged.
• Capital expenditures are expected to deliver average production of approximately 350,000 boe per day (60 per cent natural gas and 40 per cent crude oil and liquids), representing two per cent growth year over year, and includes infrastructure investment to lower operating costs at Kakwa.
• The capital program is expected to generate approximately C$1.7 billion of free funds flow based on the forward curve.
• The board has approved a preliminary 2023 capital budget of C$1.8 billion.

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