Core Viewpoint - NuVista Energy Ltd. has revised its annual production guidance to approximately 83,000 Boe/d due to delays in commissioning the Pipestone Gas Plant and additional work during the Wapiti Turnaround, impacting production volumes by about 3,500 Boe/d and 6,000 Boe/d respectively [1][11]. Production Guidance - The revised annual production guidance for 2025 is approximately 83,000 Boe/d, down from the original estimate of 90,000 Boe/d [11]. - The second quarter production estimate is approximately 73,500 Boe/d, compared to the original guidance of 75,000 – 77,000 Boe/d [11]. - Production in the second quarter averaged approximately 73,500 Boe/d, while the company expects to exceed 100,000 Boe/d in the fourth quarter due to 43 new wells coming online [3][5]. Operational Updates - The Wapiti Turnaround, which occurs every four years, has revealed additional work necessary for major life extension and improved reliability of the plant [2]. - The company has achieved a record production of just under 90,000 Boe/d in the first quarter of 2025 [5]. Financial Strategy - NuVista is committed to its shareholder return strategy, with plans to generate approximately $150 million in free adjusted funds flow in the second half of 2025, primarily directed towards a share repurchase program [4]. - The company aims to maintain debt levels below a soft ceiling of $350 million, allowing flexibility in capital plans [4][18]. Market Position - NuVista focuses on the condensate-rich Montney formation in Alberta, which has significant potential for shareholder value due to high-value condensate volumes associated with natural gas production [6].
NuVista Energy Ltd. Announces Updated Annual Production Guidance Due to Third Party Midstream Delays