UPDATE: NuVista Energy Down Nearly 2% After Announcing Second Quarter 2011 Results
NuVista Energy Ltd. (NVA.TO) announced results for the three months ended June 30, 2011 and provideD an update on its 2011 business plan. Significant highlights for the second quarter of 2011 included: achieved funds from operations of $41.0 million for the three months ended June 30, 2011 compared to $33.3 million for the three months ended March 31, 2011. Achieved average production of 25,488 Boe/d compared to 26,078 Boe/d. Increased oil and liquids production to 8,190 Bbls/d from 7,561 Bbls/d in the same period in 2010. "For 2011, the outlook for natural gas supply/demand fundamentals and natural gas prices continues to be uncertain and, as a result, we plan to carefully manage our business plan and financial flexibility to endure continued weak prices. We are gearing for repeatable profitable plays in a $4.00/Mcf gas world such that commodity strength above that value only accelerates and enhances our progress," the company said in a statement.
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