NuVista Energy, a Canadian oil and gas company, has announced its tightened production targets for the year and its plans for increased output in the coming years. The company recently achieved a quarterly production record of over 80,000 oil-equivalent barrels.
Fourth Quarter and Full-Year Guidance
In the fourth quarter, NuVista expects its production to range between 82,000 and 84,000 barrels of oil equivalent per day. For the full year, the company now estimates an output of 76,000 to 77,000 Boe/d compared to the previous projection of up to 78,000 Boe/d.
Vision for 2024 Production
Looking ahead to 2024, NuVista anticipates a production volume ranging from 83,000 to 87,000 Boe/d. The company intends to allocate its free adjusted funds flow towards shareholder returns and debt reduction while simultaneously investing in production growth.
Ambitious Targets for 2025
NuVista has set its sights on reaching a plateau production level of approximately 100,000 Boe/d by 2025. As the company continues to build its inventory of wells, it is in the early planning stages of increasing capacity to support a plateau production level of roughly 110,000 Boe/d. This strategic move will ensure continued growth throughout 2026.
Impressive Third-Quarter Output
In the third quarter, NuVista achieved an average daily production of 80,382 Boe/d, meeting expectations and marking a significant 17% increase compared to the same period last year.