February 7, 2024 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com) Energy Stock News Bites - Birchcliff Energy Ltd. (TSX: BIR.TO) is making headlines with investors today as one of the most active traders in energy stocks. The stock is trading at $5.08+ $0.43 (+9.25%) on over 2 million shares.
In mid- January Birchcliff announced its 2024 budget and guidance and its updated five-year outlook for 2024 to 2028 (the "Five-Year Outlook"). Birchcliff is also pleased to announce that its board of directors (the "Board") has declared a quarterly cash dividend of $0.10 per common share for the quarter ending March 31, 2024.
Chris Carlsen, Birchcliff's President and Chief Executive Officer, commented: "Birchcliff's 2024 capital budget and updated Five-Year Outlook reflect our commitment to maintaining a strong balance sheet and capital discipline, while focusing on sustainable shareholder returns and the continued development of our world-class asset base. Our updated Five-Year Outlook targets disciplined production growth of 16%(1) over the period, with annual average production of approximately 87,500 boe/d in 2028, which would fully utilize the Corporation's available existing processing and transportation capacity. Our Five-Year Outlook provides for potential cumulative free funds flow(2) generation of $870 million over the five-year period, which has the potential to result in substantial shareholder returns through common share dividends of approximately $535 million and cumulative excess free funds flow(2) (after the payment of dividends) of approximately $335 million, based on our current pricing assumptions. .
Read the company's full news and disclaimer here:
Research more energy stocks with Investorideas.com free stock directory
About Investorideas.com - Big Investing Ideas
Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech , sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.
Follow us on Twitter @investorideas and @stocknewsbites
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Sign up for free stock news alerts at Investorideas.com
800 665 0411