Canada's Pine Cliff Energy raises 2026 capex guidance

Pine Cliff Energy

13/08/2026 24:18

Overview
Canada oil and gas producer's Q2 adjusted funds flow rose yr/yr, production declined
Company increased 2026 capex guidance to C$27.0 mln from C$15.2 mln
Net debt fell 14% yr/yr to C$50.8 mln at June 30, 2026

Outlook
Pine Cliff raises 2026 capex guidance to C$27.0 mln from C$15.2 mln
Company has 41% of 2026 natural gas production hedged at C$3.16/Mcf for H2 2026
About 48% of 2026 crude oil production hedged at US$68.51/Bbl for H2 2026

Result Drivers
HEDGING STRATEGY - Co said realized natural gas prices averaged C$2.38/Mcf in Q2, a 47% premium to AECO Daily 5A average, due to hedging
PRODUCTION DECLINE - Q2 production averaged 19,747 Boe/d, down from 21,236 Boe/d in Q2 2025; co did not specify reasons for decline

Company press release: ID:nNFC8HvDnN

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Capex
 
C$2.84 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Pine Cliff Energy Ltd is C$0.80, about 56.9% above its August 12 closing price of C$0.51

Reuters Recommended Reads
Aug 12 - Canada's Birchcliff Q2 production falls on planned turnaround at Pouce Coupe gas plant
Aug 11 - Canada's Peyto Exploration & Development Corp's Q2 adj EPS rises
Aug 11 - Canada's Meren Energy Q2 net income rises on low-cost production; raises 2026 EBITDAX outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)