CALGARY, AB, March 7, 2024 /CNW/ – Bonterra Energy Corp. (TSX:BNE) (“Bonterra” or the “Company”) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2023. The related financial statements and notes, as well as management’s discussion and analysis (“MD&A”) along with the annual information form (“AIF”), all for the period ended December 31, 2023, are available on SEDAR+ at www.sedarplus.ca and on Bonterra’s website at www.bonterraenergy.com.
FINANCIAL AND OPERATIONAL HIGHLIGHTS
As at and for the year ended
($000s except $ per share)
December 31,
2023
December 31,
2022
December 31,
2021
FINANCIAL
Revenue – realized oil and gas sales
319,517
384,197
251,616
Funds flow(1)
147,305
185,583
104,843
Per share – basic
3.96
5.16
3.11
Per share – diluted
3.95
4.98
3.02
Cash flow from operations
140,183
183,553
96,103
Per share – basic
3.77
5.10
2.85
Per share – diluted
3.76
4.92
2.76
Net earnings(2)
44,943
79,023
179,299
Per share – basic
1.21
2.20
5.32
Per share – diluted
1.20
2.12
5.16
Capital expenditures
126,478
79,769
67,282
Total assets
967,870
919,682
945,721
Net debt(3)
140,400
149,831
267,179
Bank debt
14,822
17,601
162,945
Shareholders’ equity
528,258
479,839
392,019
OPERATIONS
Light oil
-bbl per day
7,209
7,095
7,204
-average price ($ per bbl)
97.58
113.93
74.53
NGLs
-bbl per day
1,359
1,141
1,013
-average price ($ per bbl)
48.80
66.00
43.86
Conventional natural gas
-MCF per day
33,814
31,023
27,176
-average price ($ per MCF)
3.12
5.44
3.97
Total barrels of oil equivalent per day (BOE)(4)
14,204
13,407
12,747
(1)
Funds flow is not a recognized measure under IFRS. For these purposes, the Company defines funds flow as funds provided by operations including proceeds from sale of investments and investment income received …