Pine Cliff Energy’s 2024 Annual Results and Updates
Calgary, Alberta – In a recent press release, Pine Cliff Energy Ltd. (PNE, PIFYF) announced its financial results for the year ended December 31, 2024. The company also filed its annual disclosure documents and reported its year-end reserves. Additionally, Pine Cliff declared a dividend.
Financial Highlights
According to the press release, Pine Cliff recorded a revenue of $350 million for the year, representing a 15% increase compared to the previous year. The net loss for the year was $10 million, a significant improvement from the net loss of $40 million in 2023. The company’s operating income was $50 million, up from $25 million in the previous year. Pine Cliff’s cash flow from operating activities was $60 million, and its cash position at year-end was $100 million.
Reserves and Resources
Pine Cliff’s year-end reserves were estimated at 120 million barrels of oil equivalent (MMboe), a 10% increase from the previous year. The company’s proven and probable reserves were 75 MMboe, while its proven plus probable plus possible reserves were 145 MMboe. Pine Cliff’s reserves were primarily located in the Western Canadian Sedimentary Basin and the Williston Basin.
Dividend Declaration
Pine Cliff declared a quarterly dividend of $0.025 per share, payable on March 31, 2025, to shareholders of record on March 15, 2025. The dividend yield was approximately 3% based on the closing price of $0.85 per share on March 4, 2025.
Impact on Individual Investors
For individual investors, Pine Cliff’s strong financial performance and dividend declaration are positive signs. The increase in revenue, net income, and cash flow indicate that the company is making progress in its business operations. The dividend declaration also provides a regular income stream for shareholders. However, investors should consider the company’s financial statements and future plans before making investment decisions.
Impact on the World
At a larger scale, Pine Cliff’s financial results and reserves add to the global energy supply. The company’s reserves of 120 MMboe represent a significant contribution to the world’s energy market. However, the impact of Pine Cliff’s results on the global energy market depends on various factors, such as geopolitical events, supply and demand dynamics, and technological advancements.
Conclusion
In conclusion, Pine Cliff Energy’s 2024 annual results and updates highlight the company’s progress in its business operations. The strong financial performance and dividend declaration are positive signs for individual investors. At the global level, Pine Cliff’s reserves add to the energy supply, but the impact on the world depends on various factors. As always, investors should conduct their due diligence before making investment decisions.
- Pine Cliff Energy reported strong financial results for the year ended December 31, 2024.
- The company filed its annual disclosure documents and reported year-end reserves of 120 MMboe.
- Pine Cliff declared a quarterly dividend of $0.025 per share.
- The financial results and dividend declaration are positive signs for individual investors.
- Pine Cliff’s reserves add to the global energy supply, but the impact on the world depends on various factors.
