NuVista Energy Ltd. Announces Record Financial and Operating Results and Shareholder Capital Return Framework

Provided By Globe Newswire

Last update: May 10, 2022

CALGARY, Alberta, May 10, 2022 (GLOBE NEWSWIRE) -- NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce record-setting financial and operating results for the three months ended March 31, 2022, and to provide a number of updates which demonstrate material advancement of our Pipestone and Wapiti Montney development. Commodity prices in 2022 remained strong. We used our significantly growing adjusted funds flow in a disciplined manner by growing production with new high-return wells to fill and optimize existing facilities while making rapid and meaningful progress in debt reduction. NuVista is continuing through 2022 with strength and increasing momentum. As part of our strategy to maximize the per share value growth of NuVista, our intention is to begin returning capital to shareholders now that our initial debt target has been achieved.