RY 160.91 0.3555% SHOP 116.03 -0.4718% TD 83.98 0.2148% ENB 62.82 1.4699% BN 68.81 1.6396% TRI 251.78 0.6959% CNQ 39.88 2.0732% CP 103.16 1.9771% CNR 137.31 0.483% BMO 129.32 0.4661% BNS 65.69 0.551% CSU 4682.54 -0.7613% CM 81.6 0.1473% MFC 39.65 -0.0252% ATD 71.3 1.3072% NGT 76.22 -1.6643% TRP 68.46 0.9586% SU 47.8 2.006% WCN 273.36 0.3156% L 213.68 0.1594%
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Higher operating expenses, lower revenues hit Pine Cliff Energy's bottom line in Q2FY23
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Highlights
Pine Cliff Energy Ltd (TSX: PNE) is a Canada-based company involved in acquiring, exploring, developing, and producing natural gas and oil in the Western Canadian Sedimentary Basin.
During the second quarter, Pine Cliff Energy drilled one gross (0.7 net) NTU Pekisko oil well. It drilled two gross (1.4 net) NTU Pekisko oil wells during Q1 FY23. All three have been tied-in and placed on production in Q2 FY23. In July, the company posted a production of about 1,150 Boe/d from these three gross wells. The average total production of the firm stands at nearly 20,750 Boe/d for July.
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