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ARC Resources Ltd. Reports Second Quarter 2018 Financial and Operational Results

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ARC Resources Ltd. Reports Second Quarter 2018 Financial and Operational Results

Canada NewsWire

CALGARY, Aug. 1, 2018 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or "the Company") is pleased to report its second quarter 2018 financial and operational results. Second quarter production averaged 127,879 boe per day with funds from operations totaling $204.4 million ($0.58 per share). ARC's unaudited condensed interim financial statements and notes ("financial statements"), as well as ARC's Management's Discussion and Analysis ("MD&A") as at and for the three and six months ended June 30, 2018, are available on ARC's website at www.arcresources.com and on SEDAR at www.sedar.com.





Three Months Ended

Six Months Ended


March 31,
2018

June 30,
2018

June 30,
2017

June 30,
2018

June 30,
2017

FINANCIAL






(Cdn$ millions, except per share and boe amounts and shares outstanding)






Net income (loss)

54.9

(45.9)

124.0

9.0

266.5


Per share (1)

0.16

(0.13)

0.35

0.03

0.75

Funds from operations (2)

201.0

204.4

169.8

405.4

347.0


Per share (1)

0.57

0.58

0.48

1.15

0.98

Dividends

53.1

53.1

53.1

106.2

106.2


Per share (1)

0.15

0.15

0.15

0.30

0.30

Capital expenditures, before land and net property acquisitions (dispositions)

213.7

164.8

151.0

378.5

406.2

Total capital expenditures, including land and net property acquisitions (dispositions)

116.3

164.1

165.8

280.4

426.4

Net debt outstanding (2)

728.0

757.0

527.4

757.0

527.4

Shares outstanding, weighted average diluted (millions)

353.8

353.5

353.8

353.8

353.8

Shares outstanding, end of period (millions)

353.5

353.5

353.4

353.5

353.4

OPERATIONAL






Production







Crude oil (bbl/day)

25,037

24,893

23,813

24,965

23,921


Condensate (bbl/day)

5,505

6,960

4,253

6,236

4,378


Natural gas (MMcf/day)

564.9

537.9

483.9

551.3

490.0


NGLs (bbl/day)

6,332

6,380

4,691

6,356

4,294


Total (boe/day) (3)

131,016

127,879

113,410

129,439

114,265

Average realized prices, prior to gains or losses on risk management contracts (4)







Crude oil ($/bbl)

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