Canada NewsWire
CALGARY, AB, Sept. 4, 2024
CALGARY, AB, Sept. 4, 2024 /CNW/ - (ARX: TSX) ARC Resources Ltd. ("ARC" or the "Company") today provided an operations update alongside a non-core asset disposition and the renewal of its normal course issuer bid ("NCIB").
(1) Based on the forward curve as of August 28, 2024 ( WTI US$70 per barrel; US$3.25/MMbtu NYMEX; C$2.65Mcf AECO).
Advisory on Forward-looking Information
Certain information regarding ARC set forth in this press release contains forward-looking statements that involve substantial known and unknown risks and uncertainties. The use of any of the words "plan", "expect", "intend", "believe", "should", "anticipate", or other similar words, or statements that certain events or conditions "may" or "will" occur are intended to identify forward-looking statements. These statements are only predictions and actual events or results may differ materially. Many factors could cause ARC's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, ARC. In particular, forward-looking statements contained in this press release include, but are not limited to, statements with respect to the anticipated benefits of the NCIB. These forward-looking statements are subject to numerous risks and uncertainties, including but not limited to, the allocation of proceeds from the non-core asset disposition, the anticipated timing of commissioning volumes for Phase 1 of Attachie, ARC's expectations regarding third quarter production at Sunrise and the risk that the anticipated benefits of the NCIB may not be achieved. Readers are cautioned that the foregoing list of factors is not exhaustive. Although the forward-looking statements contained in this press release are based upon assumptions which Management believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this press release, ARC has made assumptions regarding, among other things, the ability of the Company to achieve the benefits of the NCIB. These forward-looking statements are made as of the date of this press release and ARC disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results, or otherwise, other than as required by applicable securities laws.
The future acquisition of common shares pursuant to a share buyback (including through ARC's NCIB), if any, and the level thereof is uncertain. Any decision to acquire common shares pursuant to a share buyback will be subject to the discretion of the Board of Directors and may depend on a variety of factors, including, without limitation, ARC's business performance, financial condition, financial requirements, growth plans, expected capital requirements and other conditions existing at such future time including, without limitation, contractual restrictions and satisfaction of the solvency tests imposed on ARC under applicable corporate law. There can be no assurance of the number of common shares that ARC will acquire pursuant to a share buyback, if any, in the future.
About ARC
ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.
ARC RESOURCES LTD.
Please visit ARC's website at www.arcresources.com or contact Investor Relations:
E-mail: [email protected]
Telephone: (403) 503-8600
Fax: (403) 509-6427
Toll Free: 1-888-272-4900
ARC Resources Ltd.
Suite 1200, 308 - 4 Avenue SW
Calgary, AB T2P 0H7
SOURCE ARC Resources Ltd.
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