Pine Cliff Energy Ltd. (OTCQX:PIFYF) Q3 2024 Earnings Conference Call November 14, 2024 11:00 AM ET
Company Participants
Philip Hodge – President and CEO
Terry McNeill – Chief Operating Officer
Kristopher Zack – Chief Financial Officer
Operator
Good afternoon and thank you for joining the Pine Cliff third quarter webcast. With us today in the room is Phil Hodge, President and CEO; Terry McNeill, Chief Operating Officer; Kris Zack, Chief Financial Officer; and Austin Nieuwdorp, Vice President, Finance.
I’m going to turn the call over to Phil for some opening comments. Please register your questions on the webcast and we’ll get through all the questions and provide some additional detail.
Philip Hodge
Thanks, Chris. Thanks, everybody, for joining us this morning.
As usual, we won’t just read the press release. We’ll assume everybody’s read the press release and just kind of — what we’d like to do is give a little bit of color and answer any questions you’ve — that anybody may have. Q3 was — when we looked at 2024 coming into it, Q2 and Q3 were the two quarters that we were most concerned with. We have got to come off two relatively warm winters. Storage was very high coming into this summer. We knew that there was going to be no major natural gas demand pieces falling into place quite yet. We know that’s coming and that’s going to be primarily in the form of LNG but also in some of the other projects that are launching in Western Canada that are going to use natural gas. So we kind of had a bit of a plateau from an incremental demand. And because of the warm winters, we storage — we knew that it was going to be a summer where producers would, at least in the U.S., reacted quite nicely, as if they reduced production. So it went from 105 Bcf a day to under 100 Bcf.
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