10:58 AM EDT, 03/11/2024 (MT Newswires) -- RBC Capital Markets said Monday that Advantage Energy Ltd. ( AAVVF ) 's full-year 2023 results were solid and in line with Street estimates.

RBC said the company's capex was revised downward due to low gas prices.

Advantage Energy ( AAVVF ) also outlined a 2023 reserves update that was highlighted by a 4% year-on-year increase in proven and probable reserves and an 8% increase in proved, developing and producing reserves.

RBC said it expects Advantage Energy ( AAVVF ) to generate about $60 million in free cash flow in 2024, as the company has managed low gas prices with select hedges added and capex trimmed.

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