Pipestone Energy Corp
TSX:PIPE

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Pipestone Energy Corp
TSX:PIPE
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Price: 1.94 CAD 1.04% Market Closed
Market Cap: 542.6m CAD

Pipestone Energy Corp
Investor Relations

Pipestone Energy Corp. is an oil and gas exploration and production company, which focuses on developing its condensate assets in the Pipestone area of Alberta. The company is headquartered in Calgary, Alberta and currently employs 32 full-time employees. The company went IPO on 2019-01-09. The firm is engaged in the exploration and development and production of oil and natural gas liquids, including condensate, butane and propane, collectively referenced as liquids as well as natural gas in Western Canada. The firm is focused on developing its liquids-rich assets in the Pipestone area of the Alberta, Montney trend. Its Pipestone Wembley Project is located outside of Grande Prairie, Alberta and covers approximately 90,000 net acres.

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PIPE
S&P TSX Composite Index (Canada)

Earnings Calls

2023 Q2
Aug 9, 2023
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Pipestone Reports Strong Q2, Plans Acquisition
2023 Q2
Aug 9, 2023

Pipestone Energy experienced an 8% year-over-year production increase to 33,143 BOEs per day in Q2 2023, offset by a roughly 3,700 BOEs per day negative impact due to cumulative production issues. Financially, adjusted funds from operations jumped to $53.4 million, a stark 52% climb from Q2 2022's $110.4 million. The company is on target to hit its revised annual production goal of 34,000-36,000 BOE/day. Capital expenditures for the quarter were lean at $6.8 million, part of a $170.5 total H1 investment, pacing at 67% of the set $255 million annual budget. A shareholder-friendly approach is evident with a declared Q2 dividend of $0.03/share, backed by a renewing of the reserve-based loan (RBL) at $280 million, with a healthy net debt to annualized funds flow ratio of 0.8x. In a significant move, Pipestone is set to merge into Strathcona Resources, postulating Pipestone shareholders with a 9.05% stake in Canada's soon-to-be fifth largest liquids producer.

Management

Mr. Paul Wanklyn
Pres, CEO & Non-Independent Director
No Bio Available
Mr. Craig Frederick Nieboer C.A., CPA, CA
Chief Financial Officer
No Bio Available
Mr. Dustin Hoffman
Chief Operating Officer
No Bio Available
Mr. Dan van Kessel
VP of Corp. Devel.
No Bio Available
Mr. Darcy Glen Erickson
VP, Operations & Production
No Bio Available
Ms. Alyson Goldman
Corp. Sec.
No Bio Available

Contacts

Address
ALBERTA
Calgary
3700 888 3rd Street SW
Contacts
+15873928411.0
pipestonecorp.com