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Advantage Announces First Quarter 2022 Financial and Operating Results

Newswire.ca - Thu Apr 28, 9:00PM CDT

 (TSX: AAV)

CALGARY, AB, April 28, 2022 /CNW/ - Advantage Energy Ltd. ("Advantage" or the "Corporation") is pleased to report its first quarter 2022 results including record production, record adjusted funds flow(a) and continued financial and operational discipline.  Profitability increased rapidly as commodity prices increased during the quarter and debt fell significantly below our $200 million target. As a result, Advantage has initiated a return-of-capital strategy whereby all free cash flow (in excess of capital spending and acquisitions) will be allocated to share buybacks, subject to market conditions and regulations.

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Provided Content: Content provided by Newswire.ca. The Globe and Mail was not involved, and material was not reviewed prior to publication.