We are an independent oil and natural gas company engaged in the exploration for, and the development, production and acquisition of oil and natural gas reserves in the province of Alberta. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin (Wapiti Montney).
NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
Our near term focus remains on delivering immediate results in a disciplined manner while advancing our Wapiti Montney condensate-rich natural gas resource play.
As a key driver of our returns focused sustainable growth strategy, our commitment to sustainability and ESG principles is evident across the entire organization.
We are an independent oil and natural gas company engaged in the exploration for, and the development, production and acquisition of oil and natural gas reserves in the province of Alberta. Our primary focus is on the scalable and repeatable condensate-rich Montney formation in the Alberta Deep Basin (Wapiti Montney).
NuVista’s primary focus is on the scalable and repeatable condensate-rich Montney formation in the Wapiti area of the Alberta Deep Basin. This play has the potential to create significant shareholder value due to the high-value condensate volumes associated with the natural gas production and the large scope of this resource play.
Our near term focus remains on delivering immediate results in a disciplined manner while advancing our Wapiti Montney condensate-rich natural gas resource play.
As a key driver of our returns focused sustainable growth strategy, our commitment to sustainability and ESG principles is evident across the entire organization.
| ($ thousands, except per share) | 2021 | 2020 | 2019 | 2018 | 2017 | ||
| Financial | |||||||
| Oil and natural gas revenues | 885,290 | 424,637 | 585,484 | 555,849 | 377,746 | ||
| Adjusted funds flow (1)(3) | 320,974 | 156,866 | 265,851 | 264,448 | 200,030 | ||
| Per share – basic | 1.42 | 0.70 | 1.18 | 1.39 | 1.15 | ||
| Net earnings (loss) | 264,672 | (197,879) | (63,833) | 136,245 | 94,368 | ||
| Per share – basic | 1.17 | (0.88) | (0.28) | 0.71 | 0.54 | ||
| Total Assets | 2,391,984 | 2,157,830 | 2,331,361 | 2,180,874 | 1,186,419 | ||
| Net debt (1)(3) | 480,275 | 598,835 | 561,975 | 511,408 | 197,936 | ||
| Capital expenditures (2) | 288,846 | 180,442 | 301,822 | 340,792 | 315,302 | ||
| Weighted average common shares outstanding (thousands): | |||||||
| Basic | 226,288 | 225,683 | 225,429 | 190,568 | 173,221 | ||
| Operating | |||||||
| Production | |||||||
| Natural gas (MMcf/d) | 183.5 | 185.7 | 182.3 | 144.7 | 108.2 | ||
| Natural gas liquids (Bbls/d) (4) | 5,298 | 5,420 | 5,246 | 3,554 | 1,893 | ||
| Condensate & oil (Bbls/d) | 16,465 | 14,067 | 15,170 | 12,674 | 9,860 | ||
| Total (Boe/d) | 52,345 | 50,443 | 50,803 | 40,353 | 29,783 | ||
| Condensate & oil weighting | 31% | 28% | 30% | 31% | 33% | ||
| Product prices(5) | |||||||
| Natural gas ($/Mcf) | 4.63 | 2.43 | 2.78 | 3.51 | 3.55 | ||
| Natural gas liquids ($/Bbl) (4) | 35.38 | 12.68 | 14.01 | 32.83 | 25.81 | ||
| Condensate & oil ($/Bbl) | 84.35 | 45.50 | 67.44 | 70.92 | 61.01 | ||
| Working interest reserves(6) (MBOE) | |||||||
| Proved | |||||||
| Developed producing | 121,605 | 95,505 | 94,860 | 83,992 | 54,112 | ||
| Developed non-producing | 11,773 | 24,006 | 15,200 | 9,490 | 6,857 | ||
| Undeveloped | 191,547 | 213,527 | 243,379 | 231,098 | 109,712 | ||
| Total proved | 324,925 | 333,038 | 353,438 | 324,580 | 170,682 | ||
| Probable | 242,616 | 256,795 | 240,311 | 213,148 | 176,003 | ||
| Total proved plus probable | 567,541 | 589,833 | 593,749 | 537,728 | 346,685 | ||
(1) Refer to Note 16 “Capital management” in NuVista's financial statements and to the sections entitled “Adjusted funds flow” and “Liquidity and capital resources” contained in the MD&A.
(2) Non-GAAP financial measure that does not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other companies where similar terminology is used. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures.
(3) Capital management measure. Reference should be made to the section entitled “Non-GAAP and Other Financial Measures”.
(4) Natural gas liquids include butane, propane, ethane and sulphur revenue.
(5) Product prices exclude realized gains/losses on financial derivatives.
(6)Working interest reserves are gross working interest reserves and before the deduction of royalties and without including any royalty interest.
24 Hour Emergency Call-In
