Pine Cliff Energy Ltd - PIFYF STOCK NEWS

Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has signed definitive agreements to supply natural gas to a private company's data center development in Central Alberta. The agreement spans 25 years and involves supplying between 3.2 MMcf/d and 4.8 MMcf/d of natural gas, with pricing based on a rolling 12-month average of NYMEX price.

The data center will be constructed adjacent to Pine Cliff's existing facility and will operate independently from Alberta's electrical grid. For context, Pine Cliff's Q3 2024 natural gas production averaged 108.0 MMcf/d. The private company will be solely responsible for the data center's construction and operation, subject to regulatory approvals. The agreement includes specific milestones for construction timing and regulatory approvals, with potential early termination if these conditions aren't met.

Pine Cliff Energy (TSX: PNE, OTCQX: PIFYF) has announced its regular monthly dividend declaration of $0.005 per common share for January 2025. The dividend will be paid on January 31, 2025, to shareholders of record as of January 15, 2025. The company has indicated that this dividend and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice.

Pine Cliff Energy has announced a regular monthly dividend of $0.005 per common share, payable on December 31, 2024, to shareholders of record on December 16, 2024. These dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes.

The company has also extended its temporary increased demand loan facility with a Canadian chartered bank, maintaining it at $15.0 million until April 30, 2025. This extension modifies the previous arrangement that would have reduced the loan to $12.0 million on December 1, 2024.

Pine Cliff Energy reported Q3 2024 financial results with adjusted funds flow of $8.1 million ($0.02 per share), down from $17.1 million in Q3 2023. Production averaged 22,546 Boe/d, 8% higher year-over-year, despite temporary impacts from maintenance-related outages. The company reported a net loss of $6.9 million compared to net income of $4.2 million in Q3 2023. Pine Cliff has lowered its 2024 capital spending guidance to $12.0 million from $17.5 million, while maintaining production guidance at 23,250-23,750 Boe/d. The company has hedged 44% of natural gas production at $2.77/Mcf and 51% of crude oil production at $100.79/Bbl through Q4 2024.

Pine Cliff Energy (TSX: PNE) has announced a regular monthly dividend of $0.005 per common share, payable on November 29, 2024, to shareholders of record as of November 15, 2024. The company notes these dividends are expected to be designated as non-eligible dividends for Canadian tax purposes. Additionally, Pine Cliff will host a webcast to discuss their Third Quarter 2024 results on November 14th, 2024, at 9:00 AM MDT.

Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share for October 2024. The dividend is scheduled to be paid on October 31, 2024, to shareholders of record as of October 15, 2024. Pine Cliff has indicated that this dividend, along with future dividends, are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. This announcement demonstrates the company's commitment to providing regular returns to its shareholders.

Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share. The dividend will be paid on September 27, 2024, to shareholders of record as of September 16, 2024. Pine Cliff has indicated that this dividend, along with future dividends, is expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice. This announcement demonstrates the company's commitment to providing regular returns to its shareholders, albeit at a modest rate.

Pine Cliff Energy (TSX: PNE) has released its second quarter 2024 financial and operating results, along with a guidance update. The company generated $10.8 million in adjusted funds flow for Q2 2024, down from $12.0 million in Q2 2023. Production averaged 23,688 Boe/d, a 17% increase from the same period last year. Pine Cliff paid dividends of $5.4 million ($0.02 per share) in Q2 2024, compared to $11.5 million ($0.03 per share) in Q2 2023.

The company reported a net loss of $4.1 million for Q2 2024, compared to a net loss of $0.9 million in Q2 2023. Pine Cliff has reduced its 2024 production guidance to 23,250 - 23,750 Boe/d from the previous 24,000 - 25,000 Boe/d due to maintenance-related outages and weak gas prices. The company has hedged approximately 45% of its gross natural gas production and 55% of its gross crude oil production for the second half of 2024.

Pine Cliff Energy (TSX: PNE) (OTCQX: PIFYF) has announced a regular monthly dividend of $0.005 per common share, payable on August 30, 2024, to shareholders of record on August 15, 2024. The company notes that this and future dividends are expected to be designated as non-eligible dividends for Canadian income tax purposes until further notice.

Additionally, Pine Cliff will be hosting a webcast to discuss its Second Quarter 2024 results on Friday, August 9th, 2024, at 9:00 AM MDT (11:00 AM EDT). Investors can access the live webcast through the provided link or via telephone. A recorded archive will be available on the company's website following the live event.