NuVista Energy Slides as Third-Party Maintenance Pause Hits Output

Dow Jones12-18

By Adriano Marchese

NuVista Energy shares fell Wednesday after the company said it expects lower fourth-quarter output due to an unplanned maintenance stoppage at a third-party gas plant.

Shares fell 3% to 13.08 Canadian dollars ($9.14).

The Calgary, Alberta-based energy company said Wednesday that it now expects fourth-quarter production to be between 83,000 and 84,000 barrels of oil equivalent a day, down from a previous expectation of 89,000 to 91,000 barrels a day.

According to FactSet, analysts expected production of 88,600 barrels a day for the quarter.

While the facility is currently being restarted, which is anticipated to bring production levels back above 90,000 barrels a day, full-year output is now expected to fall below the bottom end of the full-year range of 83,500 to 86,000 barrels a day.

Analysts expected production of 83,800 barrels a day for the year.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

December 18, 2024 10:42 ET (15:42 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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