Brief: Kiwetinohk Reports Qtrly EPS Per Share Diluted $1.21

Kiwetinohk Energy

03/05/2023 03:08

May 2 (Reuters) - Kiwetinohk Energy Corp  KEC.TO :
    * KIWETINOHK PROVIDES FIRST QUARTER 2023 FINANCIAL AND
OPERATIONAL
RESULTS
    * ADJUSTED FUNDS FROM OPERATIONS DURING Q1 OF 2023 WAS $76.0
MILLION, OR $1.72/SHARE
    * QTRLY EPS PER SHARE DILUTED $1.21
    * QTRLY PRODUCTION AVERAGED 23,996 BOE/D
    * REDUCED CAPITAL BUDGET AND LOWER FORECASTED PRODUCTION
GROWTH
GIVEN WEAKER COMMODITY PRICE OUTLOOK
    * GAS PLANT PROCESSING FACILITY EXPANSION CAPITAL DEFERRAL
OF
APPROXIMATELY $8 MILLION
    * KIWETINOHK IS MODERATING ITS PACE OF PRODUCTION GROWTH FOR
REMAINDER OF 2023
    * DRILL, COMPLETE, EQUIP AND TIE-IN SPENDING IS EXPECTED TO
DECREASE BY APPROXIMATELY $30 MILLION TO A REVISED RANGE OF $240
MILLION TO $255 MILLION
    * SEES 2023 PRODUCTION MBOE/D 22.0 - 25.0

Source text for Eikon:  ID:nCNWyRHMka 
Further company coverage:  KEC.TO 

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