NuVista Energy Ltd

NVA

Equity

ISIN CA67072Q1046 / Valor 1623210

Toronto Stock Exchange (2024-12-24)

CAD 13.14+2.18%

NuVista Energy Ltd
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About company

NuVista Energy Ltd is an oil and natural gas company operating in the Western Canadian Sedimentary Basin, with a primary focus on the Montney formation in the Pipestone and Wapiti areas of the Alberta Deep Basin. The company is actively engaged in the exploration, development, and production of oil and natural gas reserves, with a particular emphasis on condensate-rich assets. NuVista aims to create significant shareholder value through the extraction of high-value condensate volumes associated with natural gas production in this resource-rich area.

Summarized from source with an LLMView SourceSector: Energy

Revenue Growth

NuVista Energy Ltd. reported a significant increase in revenue for Q2 2024. The company's revenue from petroleum and natural gas sales reached $323.35 million, up from $282.06 million in Q2 2023. This growth reflects the company's strong operational performance and favorable market conditions.

Net Earnings

For Q2 2024, NuVista Energy Ltd. achieved net earnings of $110.97 million, compared to $87.13 million in the same quarter of the previous year. This increase in net earnings underscores the company's ability to effectively manage costs and capitalize on higher revenue streams.

Operating Expenses

NuVista Energy Ltd. reported operating expenses of $89.01 million for Q2 2024, up from $76.98 million in Q2 2023. The rise in operating expenses is attributed to increased production activities and higher transportation costs, which totaled $37.36 million for the quarter.

Shareholders' Equity

As of the end of Q2 2024, NuVista Energy Ltd.'s total shareholders' equity stood at $2.23 billion, an increase from $2.12 billion at the end of Q2 2023. This growth in equity reflects the company's strong financial performance and strategic investments in its operations.

Income Tax Expense

NuVista Energy Ltd. incurred a total income tax expense of $32.44 million in Q2 2024, compared to $27.02 million in Q2 2023. The increase in tax expense is in line with the higher earnings before taxes, which rose to $143.41 million from $114.15 million in the previous year.

Summarized from source with an LLMView Source

Key figures

17.2%1Y

89.3%3Y

321%5Y

Performance

30.3%1Y

43.4%3Y

73.9%5Y

Volatility