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CALGARY, AB, Aug. 2, 2023 /CNW/ – ( TSX: ARX ) ARC Resources Ltd. (“ARC” or the “Company”) today reported its second quarter 2023 financial and operational results. ARC Resources Ltd. (CNW Group/ARC Resources Ltd.) HIGHLIGHTS ARC delivered second quarter 2023 production of 343,630 boe (1) per day (63 per cent natural gas and 37 per cent crude oil and liquids (2) ). Production increased two per cent year-over-year, and 13 per cent on a per share (3) basis. Second quarter production was impacted by approximately 4,100 boe per day related to the wildfires in Alberta. Production was fully restored in the quarter, with June production averaging 355,000 boe per day. ARC’s assets, including its infrastructure, did not sustain any damages. ARC generated funds from operations of $561 million (4) ($0.92 per share (5) ) and free funds flow of $144 million (6) ($0.24 per share (7) ). ARC recognized cash flow from operating activities of $551 million ($0.90 per share) and net income of $279 million ($0.46 per share). ARC distributed approximately 110 per cent of free funds flow, or $159 million, to shareholders during the second quarter. Through the first six months of 2023, ARC has returned […]
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