08:37 AM EST, 12/10/2024 (MT Newswires) -- Advantage Energy ( AAVVF ) on Tuesday released its 2025 budget and updated three-year plan.

The budget for next year includes a projected 65% increase in adjusted funds flow and a production target of 80,000 to 83,000 barrels of oil equivalent per day (boe/d).

Cash used in investing activities is expected to range between $270 million to $300 million while net debt is projected to approach the target of $450 million or 1.1x net debt to adjusted funds flow towards the end of 2025, the company added.

The company continues to plan for top-line production growth of up to 10% each year, with production expected to exceed 90,000 boe/d by 2027. Cash used in investing activities is planned to remain at $300 million per year, including any required infrastructure expansions, according to Advantage.

The company expects to be not subject to cash income taxes until 2028.

Advantage's share price rose 1% on Monday to $8.82 on the TSX.