CALGARY, Alberta, March 02, 2021 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce reserves, financial and operating results for the three months and year ended December 31, 2020, and provide a number of updates which demonstrate continued successful advancement of our Pipestone and Wapiti Montney play development. 2020 was an unprecedented year where the world saw the COVID-19 pandemic deeply affecting all economies and temporarily reducing the demand for oil and natural gas worldwide, and this was compounded by the price pressures of the Saudi-Russian oil price war early in the … Continue Reading

CALGARY, Alberta, Feb. 25, 2021 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the divestiture of its non-core Charlie Lake and Cretaceous Unit assets (the “Wembley Assets”) in the Wembley area, as well as selected water infrastructure assets (the “Infrastructure Assets”) in the Wembley/Pipestone area, for total proceeds of $94 million prior to adjustments. There is no change to NuVista’s ownership in our core Montney assets in Pipestone, Wapiti, and the surrounding area, and no material change to our ownership in the Wembley gas plant.

NuVista has entered into a definitive … Continue Reading

CALGARY, Alberta, Nov. 10, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2020 and provide an update on our future business plans. NuVista continued its decisive action in the face of a challenging year for all of industry, through the progression of our COVID-19 safe operating plan, and the significant reduction of capital, operating, and G&A spending to ensure liquidity and balance sheet protection remain the top priority. We have continued to limit overall production to approximately 50,000 Boe/d for … Continue Reading

CALGARY, Alberta, Sept. 29, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the successful renegotiations of our Minimum Volume Commitments (“MVCs”) under various processing and transportation agreements, and the successful consummation of an agreement for Letters of Credit (“LC”) support in the amount of $40 million with Export Development Canada (“EDC”).

The adjustments to our MVCs profile provides NuVista with:

A successful reduction of approximately 20% in our near-term MVCs, therefore;

The flexibility to continue to maintain annual average production volumes flat at current levels through 2021, if commodity prices

… Continue Reading

CALGARY, Alberta, Aug. 04, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three and six months ended June 30, 2020 and provide an update on our future business plans.  NuVista took decisive action in the face of a challenging quarter for all of the industry, through the implementation of a COVID-19 safe operating plan, the restriction of higher condensate ratio production during the lowest oil/condensate commodity value periods, and the significant reduction of capital, operating, and G&A spending to ensure liquidity and balance sheet protection remained paramount.  … Continue Reading

CALGARY, Alberta, May 27, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce that our bank syndicated credit facility limit has been redetermined at $475 million.  This compares to the prior limit of $550 million.  NuVista expects to have more than adequate liquidity for the remainder of 2020, as the Company plans to spend less than anticipated adjusted funds flow for the remainder of the year. As noted previously, NuVista has the productive capacity to manage production approximately flat to first quarter levels, 50,000 to 52,000 Boe/d, for the remainder of … Continue Reading

CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) — (TSX – NVA) NuVista Energy Ltd. (“NuVista“) announces that the following matters were approved at the annual and special meeting of the shareholders of NuVista held on May 5, 2020 in Calgary, Alberta. Each of the matters is described in greater detail in the Notice of Annual and Special Meeting of Shareholders and Information Circular dated March 20, 2020 (the “Circular“).

1.         Fixing the Number of Directors

By resolution passed via ballot, the number of directors to be elected at the meeting was fixed at nine members. The results of the ballot … Continue Reading

CALGARY, Alberta , May 05, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three months ended March 31, 2020 and provide an update on our future business plans in response to volatile and low oil and liquids pricing induced by the ongoing Covid-19 crisis and the disputes between major oil producing countries.

Financial and Operational Performance

During the quarter ended March 31, 2020, NuVista:

Produced 52,080 Boe/d, matching well with the midpoint of our prior guidance range of 50,000 – 54,000 Boe/d and 19% higher than the

… Continue Reading

CALGARY, Alberta, March 16, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) announces that we have reduced our capital spending program for 2020 effective immediately in order to remain approximately in line with forecast adjusted funds flow, consistent with prior guidance.  Maintaining the strength of our balance sheet continues as the top priority after the sudden decline in oil prices associated with recent global events.

Credit facility drawings will be managed to approximately $340 million by year end 2020 as a result of adjusted funds flow in excess of capital expenditures at WTI oil

… Continue Reading

CALGARY, Alberta, March 03, 2020 (GLOBE NEWSWIRE) —  

NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three months and year ended December 31, 2019 and provide a number of updates which demonstrate continued successful advancement of our Pipestone and Wapiti Montney play development.

Record 2019 Production and Adjusted Funds Flow

During the quarter and year ended December 31, 2019, NuVista:

Produced a record 57,010 Boe/d for the fourth quarter of 2019, or 16% greater than the respective quarter in 2018.  Full year 2019 production was a record 50,803 Boe/d, or 26%

… Continue Reading

CALGARY, Alberta, Jan. 14, 2020 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX: NVA) is pleased to announce a number of updates which demonstrate continued successful advancement of our Pipestone and Wapiti Montney play development.

Operations Update

The NuVista operated Pipestone South Compressor Station has performed with high reliability since commencing operations late in the third quarter of 2019.  After initial testing, the 11 new wells at Pipestone have been operating tubing-restricted with minimal production decline since early in the fourth quarter of 2019.  Production is only now beginning to decline as expected, as wells reach line … Continue Reading

CALGARY, Alberta, Nov. 11, 2019 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2019 and provide an update on our future business plans. Measured and profitable growth continued as planned during the quarter due to the progressive addition of new wells as part of our ongoing development program in Gold Creek and Bilbo. Late in the third quarter, the startup of the Pipestone asset was achieved under budgeted costs and six weeks ahead of the original startup date which was mid-November. … Continue Reading