• NuVista Energy (NVA) advises of wildfire impact in Grande Prairie, temporarily closing affected operations
  • Shut-in’s, ordered on the 5th of May, have been implemented
  • Around 40,000 Barrels of Oil Equivalent per day has been impacted by this decision
  • Fourth quarter and full year operational results for 2022 were also released
  • The company found an increase of 138 per cent, $631 million
  • NuVista (NVA) is down 1.15 per cent, trading at $11.19 at 1:45 pm EST

NuVista Energy (NVA) is one of the latest companies who have been affected from the Alberta wildfires.

The company will temporarily be shutting down operations situated near the ongoing fires.

Shut-in’s, ordered on the 5th of May, have been implemented in order to protect company workers, the public, and the companies assets.

Around 40,000 Barrels of Oil Equivalent per day has been impacted by this decision and the company plans to restart operations as soon as there is no longer a risk to those involved.

Fourth quarter and full year operational results for 2022 were also released for the company.

NuVista managed to produce an average of 68,690 Boe/d, a 31 per cent increase from 2021.

As for annual net earnings, the company found an increase of 138 per cent, $631 million.

Leaving the 2021 year behind, NuVista reported just over $41 million of available cash and zero drawn on its $440 credit facility.

Looking at net debt, the company had over $171 million which was a 64% reduction from $480 million at the end of 2021.

NuVista is an oil and natural gas company working to produce oil and natural gas reserves in Alberta. 

The company is actively working out of the Western Canadian Sedimentary Basin. The main focus is in the Pipestone and Wapiti areas.

NuVista (NVA) is down 1.15 per cent, trading at $11.19 at 1:45 pm EST.

More From The Market Online

KWESST to provide situational awareness for the Canadian Red Cross

KWESST Micro Systems (TSXV:KWE) wins a contract to provide a situational awareness app to support the Canadian Red Cross.

Air Canada stock rises as service from Ottawa grows

Air Canada (TSX:AC) boosts its schedule serving Ottawa by almost 60 per cent with more flights across the nation.

Odd Burger to add 40 locations in Florida

Odd Burger (TSXV:ODD) will develop 40 new locations in Florida over the next eight years, with its sights set on further U.S. expansion.