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CALGARY, Alberta, May 10, 2023 (GLOBE NEWSWIRE) — (PIPE – TSX) Pipestone Energy Corp. ( “Pipestone” or the “Company” ) is pleased to report its first quarter 2023 financial and operational results. The Company also announced today that Paul Wanklyn, President and Chief Executive Officer, will be taking an immediate leave of absence for health reasons. Pipestone’s Board of Directors has appointed Dustin Hoffman, the Company’s Chief Operating Officer, as Interim President and Chief Executive Officer, effective immediately. As of May 9 th , the Company’s production curtailed by wildfires in the Grande Prairie region was reduced to approximately 5,000 boe/d from the previously reported approximately 20,000 boe/d. At this time, the Company has no known significant damage or loss to either its owned or any third-party infrastructure. Our thoughts are with the communities who have been or are continuing to be impacted by these wildfires. Pipestone’s objectives for 2023 are to deliver continued efficient production growth, unlock the value of its asset through high impact delineation, and to deliver on shareholder returns, which are underpinned by the Company’s quarterly dividend and will be supplemented by share repurchases under the Normal Course Issuer Bid (“ NCIB ”). Pipestone had […]
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