Advantage Announces Second Quarter 2022 Financial and Operating Results
(TSX: AAV ) CALGARY, AB , July 28, 2022 |CNW| - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to report its second quarter 2022 results including record production, record adjusted funds flow (a) and a surge in profitability, while debt fell rapidly below our $200 million target. As a result, Advantage will accelerate its return-of-capital efforts whereby all free cash flow will be allocated to share buybacks. Financial Highlights Record cash provided by operating activities of $157.4 million Record adjusted funds flow ("AFF") (a) of $187.1 million or $0.98 |share Free cash flow ("FCF") (a) of $139.5 million (75% of AFF) Cash used in investing activities was $80.7 million Net capital expenditures (a) were $47.6 million , including $11 million for pre-purchases of equipment to moderate the impact of inflation Net income of $164.2 million or $0.86 |share Tax pools of $1.4 billion continue to provide near-term cash tax deferrals Operating expenses remained low at $2.
Advantage Announces Second Quarter 2022 Financial and Operating Results
(TSX: AAV ) CALGARY, AB , July 28, 2022 |CNW| - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to report its second quarter 2022 results including record production, record adjusted funds flow (a) and a surge in profitability, while debt fell rapidly below our $200 million target. As a result, Advantage will accelerate its return-of-capital efforts whereby all free cash flow will be allocated to share buybacks. Financial Highlights Record cash provided by operating activities of $157.4 million Record adjusted funds flow ("AFF") (a) of $187.1 million or $0.98 |share Free cash flow ("FCF") (a) of $139.5 million (75% of AFF) Cash used in investing activities was $80.7 million Net capital expenditures (a) were $47.6 million , including $11 million for pre-purchases of equipment to moderate the impact of inflation Net income of $164.2 million or $0.86 |share Tax pools of $1.4 billion continue to provide near-term cash tax deferrals Operating expenses remained low at $2.