I guess we would have expected that to go up a bit just on inflation but is that a case where you had sufficient cushion baked in? Michael Harvey - RBC Capital Markets. Second, for the 15th consecutive year, we replaced greater than 140% of production with 2P reserve additions. Gather your supporting documentation and data, and get ready to record your answers. What year did bc open their ip.com. Question-and-Answer Session. The press release, financial statements and MD&A are also available on our website as well as SEDAR.
You'll next wait in the Evaluation Queue, as an analyst from our team reviews your company's eligibility for B Corp Certification. The tomb, which faced the procession avenue to Mentuhotep II's temple, contains a corridor leading to an offering chapel with a niche for a statue of the deceased. But as of right now, we feel comfortable with the $700 million. Looking back at 2022, what I am most pleased about is that we stuck to our guiding principles and remain disciplined. First, at Dawson, we achieved 1 Tcf of natural gas produced, proof of the quality and scale of our asset base. ARC invested $383 million into our assets and generated approximately $600 million or $0. So to follow up on that, should we expect a production tailwind in the first half of the year as you tie those wells in? Kris Bibby - Chief Financial Officer. All our existing production in BC is on private or freehold land and we continue to receive permits there. Egypt opens 4,000-year-old tomb on Luxor's West Bank, oldest open to public | Nasdaq. However, fund managers expected an "icebreaker" discount to buy into the first deal of the year.
But logistically, we want to understand how the permits will be issued and how the process -- what is the process in terms of getting the projects moving on. We will move some of the -- our rigs -- we are moving rigs into BC and we will allocate the rig from their current activity into their. And so that's what was driving those increases. We look forward to connecting with you on any further questions you might have in the future. And I just have another follow-up on the inventory at Kakwa. Large companies that previously would have turned to Hong Kong could consider the onshore market, he said. So good questions on Attachie. So if you think about our Sunrise asset, we knew from very early days we had enough vertical separation and frac barriers within that reservoir that we could come in and develop the lower Montney and it was completely isolated from the upper and middle Montney. New ipo in canada. As it relates to our capital program, we made the decision early in 2022 to divert activity from BC to our Kakwa asset in Alberta and target condensate-rich areas and this decision paid off in a big, big way. Conference Call Participants. So that's really what we are waiting for. Shares started trading at 18. Operational excellence is a guiding principle and it showed through in our operational performance and reserves. This past year, we executed our largest capital program on record and most importantly, we did it safely.
To close, we are excited to be back in BC and the establishment of a new framework is constructive. We will do that through disciplined investments in our assets by executing on margin expansion opportunities like LNG and by reducing the share count when it's accretive to do so like it is today. Just trying to get a sense for some of the logistics on flows of equipment. We anticipate to be in a position to sanction the project this year. Attachie specifically comprised just 4% of total 2P locations. The Lower Montney really isn't playing a big component in those reserves -- or in those well counts. ARC continued to strengthen its balance sheet in the fourth quarter by reducing debt by an additional $240 million. China IPO Reform Is ‘Significant Milestone’, Goldman Sachs Says. Production, funds flow and free funds flow per share registered 2% to 7% above consensus. We are excited about this agreement with a high-quality counterparty and the diversified exposure it provides to global natural gas prices. Thank you, operator. The deal saw demand from money managers, including hedge funds, as well as domestic retail investors, sources close to the matter said. B Lab will not conduct a bringdown certification review outside of the standard recertification schedule in the case of an initial public offering, or any other public offering, private placement of securities or other transaction.
This was due to physical transportation agreements put in place years ago that are frankly impossible to replace today. It was a record year for our company on several operational and financial measures. Second, grow free cash flow per share. Recertification confirms these standards continue to be met on an ongoing basis. 50 euros per share, in a sign that markets may be cautiously opening up to new entrants. Today, we have 2 rigs actively drilling and the level of activity will increase over the course of the year. So we did see some strong technical revisions from the base performance at Kakwa and that's really a result of us widening our inter-well spacing. What year did bc open their ipo dates. Offsetting the third-party outages is stronger-than-forecast base production which will support consistent production growth over the balance of 2023.
Asset diversification was critical, allowing us to shift capital from BC to Alberta and surpassed 26-year records in production and free cash flow, both on an aggregate and per-share basis. And is there anything beyond what was released at that public press conference? If you're over the 80-point benchmark, submit your B Impact Assessment for review. You can save and return to your assessment at any time. So from a logistics perspective, we have 11 rigs active today. These are our priorities and I look forward to sharing our progress on them in the quarters to come. But we believe 18 months is our timing. Once we get to sanctioning, we'll look at that again and make sure that we're clear on that number.
And one final question for me. You're often asked about acquisitions but is there anything noncore left in the portfolio that you look to divest? Safety will always be our number one priority. Aaron, it's Lara Conrad. Good morning, everyone and thank you for joining us for our fourth quarter and year-end results conference call. We potentially would look for another rig depending on timing. Books closed on Tuesday with a final IPO price of 18. You've now reached Certification! First is a look back on 2022. "Previously, there was a very long queue, " Wang said. Company Participants. As it relates to the regulatory environment, the agreements executed between the BC government and the Treaty 8 First Nations are a positive step forward.
I'm pleased to report that we have regained operational momentum in the province. During Verification, you'll have your review call with an analyst, go through your verification report, and provide all documentation backing up your answers to the Assessment. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. In Western Canada, consumption is roughly 700, 000 barrels a day, demand is growing and production is approximately 400, 000 barrels per day. As debt was reduced, we increased the range of returns to shareholders to 50% to 100% of free funds flow and anticipate that we'll be at the middle or top end of that range in 2023.
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