An anonymous director reports

ARC RESOURCES LTD. REPORTS RECORD PRODUCTION, YEAR-END RESULTS AND RESERVES

ARC Resources Ltd. has released its fourth quarter and year-end 2023 financial and operational results as well as its year-end 2023 reserves.

HIGHLIGHTS

Fourth Quarter 2023 Results

• Fourth quarter production averaged 365,248 boe(1)(2) per day (63 per cent natural gas and 37 per cent crude oil and liquids), the highest in ARC's 28-year history. Production per share(3) increased six per cent compared to the fourth quarter of 2022.
• ARC recognized both funds from operations and cash flow from operating activities of $699 million (4) ($1.16 per share)(5) during the fourth quarter. ARC generated free funds flow of $155 million (6) ($0.26 per share)(7) and recognized net income of $506 million ($0.84 per share). End market diversification resulted in an average realized natural gas price of $3.33 per Mcf(5); 25 per cent greater than the average AECO 7A Monthly Index price of $2.66 Mcf. Fourth quarter combined operating and transportation cost of $8.72 per boe registered as the lowest in two years.
• ARC invested $545 million into capital expenditures(6), in-line with Company guidance. ARC disposed of certain non-core assets for net proceeds of $44 million during the fourth quarter, with the proceeds re-invested through the repurchase of ARC shares.
• ARC repurchased 8.4 million shares during the fourth quarter. In the five months since renewing its normal course issuer bid ("NCIB") on September 1, 2023, ARC has repurchased 10.6 million common shares, or 17 per cent of its allotment under the current NCIB. Since instituting the NCIB in September of 2021, ARC has repurchased 18 per cent of its common shares outstanding.
• In the fourth quarter of 2023, ARC announced that it entered into a long-term natural gas supply agreement with Sabine Pass Liquefaction Stage V, LLC, a subsidiary of Cheniere Energy, Inc. ("Cheniere") for approximately 140 MMcf per day that is expected to commence by 2029. Under the agreement, ARC will supply natural gas and will receive a liquefied natural gas ("LNG") price based on the Dutch Title Transfer Facility ("TTF"), after fixed deductions for liquefaction, shipping, and regasification fees.
• Attachie Phase I is progressing on-schedule and on budget. Initial commissioning volumes are anticipated in late 2024, with full production expected in the first quarter of 2025.

Year-end 2023 Results

• ARC generated record annual production in 2023 averaging 351,954 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids), an increase of 11 per cent per share compared to 2022.
• ARC generated free funds flow of $790 million ($1.29 per share) in 2023 and distributed 110 per cent (96 per cent net of proceeds from divestitures) of free funds flow to shareholders. ARC recognized net income of $1.6 billion ($2.61 per share).
• Return on average capital employed ("ROACE")(7) was 23 per cent in 2023. Over the previous three years, ROACE has been between 18 and 35 per cent.
• Capital expenditures of $1.8 billion were directly in-line with the Company guidance range of $1.8 to $1.9 billion.
• Combined operating and transportation cost registered at $9.70 per boe, slightly below the bottom end of ARC's guidance range.
• ARC's market diversification strategy resulted in an annual average realized natural gas price of $3.77 per Mcf; $0.84 per Mcf, or 29 per cent greater than the 2023 average AECO 7A Monthly Index price. This marks the 11th straight year where ARC's realized natural gas price exceeded AECO by 20 per cent or greater.

2023 Reserves & Contingent Resource Update(1)(8)

• ARC's before-tax net present value ("NPV") of proved plus probable ("2P") reserves, discounted at 10 per cent, increased 13 per cent from 2022 to $38.00 per share(9) at December 31, 2023. The 2P NPV considers the development of 20 per cent of ARC's internally identified inventory.
• ARC booked 90 MMboe of 2P reserves at Attachie, representing approximately five years of development at Attachie Phase I. The 116 undeveloped locations booked at year-end 2023 represent seven per cent of ARC's internal inventory estimate at Attachie, providing a considerable runway for future reserve growth.
• Reserves were a record across all categories - increasing by between 12 per cent and 13 per cent per share on a proved producing ("PDP"), proved ("1P") and 2P basis.
• Kakwa PDP reserves increased by five per cent. This was due to strong performance from the 2023 development program and positive technical revisions, which resulted in an increase in reserve life index ("RLI") across all three categories (PDP, 1P, and 2P).
• 2P reserve adds of 310 MMboe were the largest in ARC's 28-year history, and for the 16th consecutive year, ARC's 2P reserve replacement from development activities was greater than 140 per cent of production.
• For the first time since the strategic combination with Seven Generations, ARC conducted a third-party Resource Evaluation of its Montney properties to quantify resource quality and inventory depth. The study included an estimate of unrisked economic contingent resource of 15 Tcf and 920 MMbbl, in addition to ARC's 2P reserves of 8 Tcf and 670 MMbbl.
• The study estimates a contingent plus prospective well inventory of 4,900 locations at its Montney properties, over and above the 1,000 well inventory that forms ARC's before-tax 2P NPV of $38.00 per share.

ARC's consolidated financial statements and notes (the "financial statements") and Management's Discussion and Analysis ("MD&A") as at and for the three months and year ended December 31, 2023, are available on ARC's website and under ARC's SEDAR+ profile. The disclosures under the section entitled "Non-GAAP and Other Financial Measures" in ARC's MD&A as at and for the three months and year ended December 31, 2023 (the "2023 Annual MD&A") is incorporated by reference in this news release.

(1) ARC has adopted the standard six thousand cubic feet ("Mcf") of natural gas to one barrel ("bbl") of crude oil ratio when converting natural gas to barrels of oil equivalent ("boe"). Boe may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf:1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Given that the value ratio based on the current price of crude oil as compared to natural gas is significantly different than the energy equivalency of the 6:1 conversion ratio, utilizing the 6:1 conversion ratio may be misleading as an indication of value.

(2) Throughout this news release, crude oil ("crude oil") refers to light, medium, and heavy crude oil product types as defined by National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). Condensate is a natural gas liquid as defined by NI 51-101. Throughout this news release, natural gas liquids ("NGLs") comprise all natural gas liquids as defined by NI 51-101 other than condensate, which is disclosed separately. Throughout this news release, crude oil and liquids ("crude oil and liquids") refers to crude oil, condensate, and NGLs.

(3) Represents average daily production divided by the diluted weighted average common shares outstanding for the respective three months ended December 31.

(4) See Note 15 "Capital Management" in the financial statements and "Non-GAAP and Other Financial Measures" in the 2023 Annual MD&A for information relating to this capital management measure, which information is incorporated by reference into this news release.

(5) See "Non-GAAP and Other Financial Measures" in the 2023 Annual MD&A for an explanation of the composition of this supplementary financial measure, which information is incorporated by reference into this news release.

(6) Non-GAAP financial measure that is not a standardized financial measure under International Financial Reporting Standards as issued by the International Accounting Standards Board ("IFRS Accounting Standards") and may not be comparable to similar financial measures disclosed by other issuers. See "Non-GAAP and Other Financial Measures" in the 2023 Annual MD&A for information relating to this non-GAAP financial measure, which information is incorporated by reference into this news release. See "Non-GAAP and Other Financial Measures" of this news release for the most directly comparable financial measure disclosed in ARC's current financial statements to which such non-GAAP financial measure relates and a reconciliation to such comparable financial measure.

(7) Non-GAAP ratio that is not a standardized financial measure under IFRS Accounting Standards and may not be comparable to similar ratios disclosed by other issuers. Free funds flow, a non-GAAP financial measure, is used as a component of the non-GAAP ratio. See "Non-GAAP and Other Financial Measures" in the 2023 Annual MD&A for the non-GAAP ratio for the comparative period and other information relating to this non-GAAP ratio, which information is incorporated by reference into this news release.

(8) GLJ Ltd. ("GLJ") conducted an Independent Qualified Reserves Evaluation ("Reserves Evaluation"), dated February 8, 2024 and effective December 31, 2023, which was prepared in accordance with definitions, standards, and procedures in the Canadian Oil and Gas Evaluation ("COGE") Handbook and NI 51-101. The Reserves Evaluation was based on GLJ's forecast pricing and foreign exchange rates at January 1, 2024.

(9) See "Non-GAAP and Other Financial Measures" of this news release for an explanation of the composition of this supplementary financial measure.

OUTLOOK

In 2023, ARC delivered on its strategy of safe and efficient Montney development to drive long-term value creation. Production, reserves, and safety performance achieved 28-year records, and the sanctioning of Attachie and execution of subsequent LNG supply agreements provided greater visibility into ARC's long-term growth plans and margin expansion initiatives.

In 2024, ARC will build on this operating momentum to achieve the goals of the five-year outlook introduced in 2023. This will be defined and measured by a capital efficient Montney development program and by completing the first phase of Attachie on-time and on budget. Consistent with 2023, ARC expects to return substantially all of its free funds flow to shareholders through a growing base dividend(1) and share repurchases under its NCIB to provide a competitive and sustainable total return.

Execution of this plan is expected to drive an increase in profitable production growth and free funds flow per share beginning in 2025.

Operations Update

First quarter 2024 operations are progressing as planned. Drilling and completions activities have commenced at Attachie, and the extreme cold weather experienced in early January 2024 had no material impact to operations.

Production in the first quarter is anticipated to average between 340,000 and 350,000 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids) as planned within the 2024 budget. Growth in the second half of the year is expected to be driven by Kakwa, Sunrise, and start-up volumes from Attachie Phase I later in the year.

Attachie Phase I Update

Attachie Phase I development remains on schedule and on budget. ARC invested approximately $250 million in capital expenditures at Attachie in 2023.

• Completion of Attachie Phase I is anticipated in the fourth quarter of 2024 with commissioning volumes expected before year-end. Facility capacity for the first phase is 40,000 boe per day (40 per cent natural gas and 60 per cent crude oil and liquids).
• Facilities and related infrastructure are approximately 30 per cent complete.
  • The natural gas sales line is complete; water ponds are complete and being utilized for drilling and completion activities; gathering pipelines are 40 per cent complete.
• ARC successfully drilled its first pad and commenced completion activities. ARC currently has two drilling rigs active at Attachie.
• Construction of the transmission and distribution lines to enable the electrification of the facility is on-track for start-up, which will lower ARC's emissions intensity.
• The permitting process is progressing well and ARC continues to receive additional permits working collaboratively with the neighbouring Treaty 8 First Nations in support of the multi-year development project.

(1) Subject to the approval of ARC's board of directors (the "Board").

The outlook through 2025 is outlined below, subject to Board approval.

Guidance

Full-year 2024 guidance is unchanged and detailed in the table below.

Planned capital expenditures of between $1.75 to $1.85 billion (3), which includes approximately $500 million to complete and commission Attachie Phase I.

Average annual production of between 350,000 and 360,000 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids).

Kakwa production is expected to average approximately 180,000 boe per day (approximately 60 per cent crude oil and liquids) as previously disclosed (175,000 boe per day upon expiry of the ethane sales contract in the second quarter of 2024).

ARC's 2024 corporate guidance is based on various commodity price scenarios and economic conditions; certain guidance estimates may fluctuate with commodity price changes and regulatory changes. ARC's guidance provides readers with the information relevant to Management's expectations for financial and operational results for 2024. Readers are cautioned that the guidance estimates may not be appropriate for any other purpose.

FINANCIAL AND OPERATIONAL RESULTS

Production

• Fourth quarter production averaged a record 365,248 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids). Production per share increased six per cent compared to the fourth quarter of 2022. -Fourth quarter production exceeded fourth quarter guidance of 355,000 boe per day, due to stronger production across the asset base.
• Full-year production averaged a record 351,954 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids). Production was in-line with guidance and represented a two per cent increase (11 per cent on a per share basis) from average daily production in 2022.
• Production in the first quarter of 2024 is estimated to average between 340,000 to 350,000 boe per day (63 per cent natural gas and 37 per cent crude oil and liquids).
• Funds from Operations, Cash Flow from Operating Activities, and Free Funds Flow
• Fourth quarter 2023 funds from operations and cash from operating activities were each $699 million ($1.16 per share). Funds from operations increased six per cent from the third quarter of 2023, driven by a combination of higher production volumes, lower operating expense, G&A expense, and current income tax expense.
• In 2023, ARC generated funds from operations of $2.6 billion ($4.32 per share) and cash from operating activities of $2.4 billion ($3.92 per share).
• Fourth quarter and full-year 2023 free funds flow was $155 million ($0.26 per share) and $790 million ($1.29 per share), respectively.

Shareholder Returns

• In 2023, ARC returned 110 per cent (96 per cent net of proceeds from divestitures) of free funds flow to shareholders through the base dividend and share repurchases. -In the first quarter of 2023, the Board approved an increase of 13 per cent to the Company's quarterly dividend, from $0.15 per share to $0.17 per share.
• During the fourth quarter, ARC distributed 183 per cent (143 per cent net of proceeds from divestitures) or $284 million ($0.47 per share) of free funds flow to shareholders through a combination of dividends and share repurchases under its NCIB. -During the fourth quarter 2023, ARC declared dividends of $102 million ($0.17 per share). -ARC repurchased 8.4 million common shares under its NCIB at a weighted average price of $21.65 per share.
• Since commencing its initial NCIB in September 2021, ARC has repurchased approximately 18 per cent of total outstanding shares or 131 million common shares, at a weighted average price of $16.06 per share.
• ARC will continue to repurchase common shares when the intrinsic value of the Company's common shares exceeds the current market trading price. ARC determines the intrinsic value using a discounted cash flow framework under a range of commodity price assumptions and discount rates.
• ARC intends to continue to distribute essentially all of its free funds flow to shareholders given its strong financial position.

Operating, Transportation, and General and Administrative Expense

Operating Expense

• ARC's fourth quarter 2023 operating expense of $4.13 per boe decreased 16 per cent from the third quarter of 2023, due to lower planned maintenance activity and higher production.
• Full-year 2023 operating expense of $4.59 per boe was in-line with Company guidance.
• Operating expense per boe in 2024 is anticipated to average between $4.50 to $4.90 per boe.

Transportation Expense

• ARC's fourth quarter 2023 transportation expense per boe of $4.59 decreased by seven per cent or $0.35 per boe from the third quarter of 2023 primarily due to higher volumes and lower than anticipated crude oil and liquids transportation costs.
• ARC's full-year 2023 transportation expense of $5.11 per boe was below ARC's guidance range of $5.50 to $6.00 per boe primarily due to modifications of certain natural gas transportation contracts and lower fuel gas expense.

General and Administrative Expense

• ARC's fourth quarter 2023 general and administrative expense before share-based compensation expense per boe of $1.43 increased by $0.42 per boe from the third quarter of 2023. The increase is due to an enterprise system implementation that increased consulting and technology costs.
• ARC's full-year 2023 general and administrative expense of $1.65 per boe was above Company guidance primarily due to share-based compensation expense driven by share price appreciation.

Cash Flow Used in Investing Activities and Capital Expenditures

• Cash flow used in investing activities was $434 million during the fourth quarter of 2023. Capital expenditures in the fourth quarter were $545 million. ARC drilled 37 wells and completed 33 wells during the quarter, focused mainly at Attachie, Kakwa, and Greater Dawson.
• ARC executed its 2023 capital program efficiently and had a record year in terms of safety performance. -Cash flow used in investing activities was $1.7 billion. ARC invested $1.8 billion in capital expenditures to drill 148 wells and complete 151 wells.

Physical Natural Gas Marketing

• ARC's infrastructure ownership and committed takeaway capacity to end markets played a critical role in mitigating AECO volatility and capturing additional margin in periods of price volatility in North America. -ARC's average realized natural gas price during the fourth quarter was $3.33 per Mcf, 25 per cent higher than the average AECO 7A Monthly Index price for the period. -Full-year 2023 market diversification activities resulted in an average realized natural gas price of $3.77 per Mcf; 29 per cent greater than the average AECO 7A Monthly Index price.
• In the fourth quarter 2023, ARC entered into a long-term natural gas supply agreement with Cheniere. The agreement commences with the commercial operations of the first train of the Sabine Pass Stage 5 Expansion Project SPL Expansion Project, which is anticipated to occur by 2029. -ARC will supply 140 MMbtu per day of natural gas for 15 years, and will receive an LNG price based on the TTF price, after fixed deductions for liquefaction, shipping and regasification fees.
• ARC plans to market up to 25 per cent of its future natural gas production to international markets with revenue linked to international or LNG pricing.

Net Debt

• As of December 31, 2023, ARC's long-term debt balance was $1.1 billion, and its net debt balance was $1.3 billion, or 0.5 times funds from operations. -ARC targets its net debt to be in the range of or below 1.0 times funds from operations and manages its capital structure to achieve that target over the long-term. -Long-term debt is comprised of $155 million of syndicated credit facilities and $1.0 billion of senior notes outstanding. -Subsequent to year-end, ARC extended its credit facility by one year to a maturity date of February 2028 and reduced the capacity to $1.7 billion from $1.8 billion.
• ARC holds an investment-grade credit rating, which allows the Company to have access to capital and to manage a low-cost capital structure. ARC is committed to protecting its strong financial position by maintaining significant financial flexibility with its balance sheet.

Net Income

• ARC recognized net income of $506 million ($0.84 per share) during the fourth quarter of 2023, an increase of $270 million ($0.45 per share) from the third quarter 2023.
• In 2023, ARC recognized net income of $1.6 billion ($2.61 per share), compared to net income of $2.3 billion ($3.47 per share) in 2022. The decrease in net income compared to the prior year was primarily due to lower average realized commodity prices.

2023 RESERVES

Highlights

• ARC's before-tax NPV for 2P reserves of $38.00 per share represented a 13 per cent increase compared to 2022. The before-tax NPV of $23.0 billion, discounted at 10 per cent, registered as the highest in ARC's 28-year history. -ARC's NPV for 2P reserves of $38.00 per share is based on the development of approximately 1,000 gross 2P locations, which represents 20 per cent of the Company's total gross internal inventory estimates. -ARC's before-tax PDP NPV, discounted at 10 per cent, registered at $14.00 per share, and $26.00 per share on a 1P basis. -ARC's NPV was determined using GLJ's forecast pricing and foreign exchange rates at January 1, 2024, with a 10-year average WTI price of US$81 per barrel and a 10-year average AECO price of $4.23 per million MMBtu.
• Reserves were a record across all categories - increasing by between 12 per cent and 13 per cent per share on a PDP, 1P and 2P basis. -Reserve growth was primarily driven by development additions at Attachie and positive technical revisions and drilling extensions at Kakwa and Sunrise. -ARC booked 90 MMboe of 2P reserves at Attachie, representing approximately five years of development at Attachie Phase I. The 116 undeveloped locations booked at year-end 2023 represent seven per cent of ARC's internal inventory estimate at Attachie, providing a considerable runway for future reserve growth. -PDP reserves increased 43 MMboe or eight per cent (12 per cent per share) to 591 MMboe, driven by positive technical revisions and drilling extensions. -2P reserves increased by nine per cent, and 13 per cent on a per share basis. The increase was driven by development at Attachie, Sunrise, and Kakwa.
• Kakwa reserves increased by five per cent on a PDP basis, and between one and two per cent on each of a 1P and 2P basis, respectively. The increase was driven by positive technical revisions and drilling extensions, which more than offset the previously announced ethane sales contract expiry in the second quarter of 2024 that resulted in a decrease in barrels of oil equivalent, as shown in the economic category. -RLI at Kakwa increased across all categories (PDP RLI 4.8 years; 2P RLI 14.2 years), and is based on approximately 44 per cent of the internally identified inventory at Kakwa. -2P reserves of 1,994 MMboe were a record, driven by organic reserve growth at Attachie, Sunrise and Kakwa. Attachie comprised 12 per cent of total 2P locations with 116 undeveloped drilling locations booked.
• PDP finding, development and acquisition ("FD&A") costs, including future development capital ("FDC") of $9.81 per boe(1) equated to a 2.5 times(2) PDP FD&A recycle ratio. -FDC for 2P reserves totaled $10.0 billion at December 31, 2023 as compared to $9.1 billion at December 31, 2022. This 10 per cent increase in FDC is primarily due to the sanctioning of Attachie Phase I. -FDC for 2P reserves equates to 5.6 times the mid-point of ARC's 2024 capital budget.
• ARC's RLI increased on a PDP, 1P, and 2P basis in 2023, driven by strong technical revisions and drilling extensions.

(1) Non-GAAP ratio that is not a standardized financial measure under IFRS Accounting Standards and may not be comparable to similar financial measures disclosed by other issuers. Capital expenditures and adjusted net capital acquisitions, both non-GAAP financial measures, are used as components of this non-GAAP ratio. See "Non-GAAP and Other Financial Measures" of this news release for the non-GAAP ratio for the comparative period and other information relating to this non-GAAP ratio.

(2) Non-GAAP ratio that is not a standardized financial measure under IFRS Accounting Standards and may not be comparable to similar financial measures disclosed by other issuers. Netback per boe, a non-GAAP ratio, is used as a component of this non-GAAP ratio. Additional information with respect to the calculation of netback per boe can be found under "Non-GAAP and Other Financial Measures" in the 2023 Annual MD&A, which is incorporated by reference herein. See "Non-GAAP and Other Financial Measures" of this news release for the non-GAAP ratio for the comparative period and other information relating to this non-GAAP ratio.

Net Present Value Summary

For a summary of the GLJ forecast pricing and foreign exchange rates used to evaluate ARC's reserves, see "2023 Independent Qualified Reserves Evaluation" of this news release.

Finding, Development and Acquisition Costs

• ARC continues to demonstrate the profitability and consistency of its Montney assets through low finding and development ("F&D") costs and strong recycle ratios. -ARC delivered a 2P F&D cost, including FDC, of $9.17 per boe(1) ($5.98 per boe excluding FDC), a decrease from $16.18 per boe ($7.42 per boe excluding FDC) in 2022. -Including net acquisitions and dispositions, ARC's 2P FD&A cost, including FDC, was $9.03 per boe(1) ($5.89 per boe excluding FDC), compared to $16.18 per boe ($7.39 per boe excluding FDC) in the prior year.

FD&A costs are provided including and excluding the change in FDC in the table below.

ENERGY INNOVATION

Dawson III and IV Electrification - In 2023, ARC completed the electrification of its Dawson III and IV facilities. In addition, Attachie Phase I will be fully electrified at start-up, marking an important milestone in achieving its emissions intensity reduction targets.

Hydrogen Pilot Project - In the first quarter of 2024, ARC announced a partnership with Ekona Power Inc., a Canadian-based clean technology company, to conduct a field-based hydrogen pilot. The pilot project will evaluate the technology's ability to produce a reliable supply of clean hydrogen using the Company's existing natural gas infrastructure at ARC's Gold Creek natural gas plant in Alberta.

BOARD OF DIRECTORS UPDATE

ARC is pleased to announce the appointment of Hugh Connett to the Company's Board of Directors, effective immediately. Mr. Connett has 40 years of global energy industry experience with extensive experience working across various sectors of the energy value chain including natural gas, power, pipelines and LNG. Mr. Connett spent 24 years at Chevron Corporation where he held several executive roles including his most recent role as President, Chevron Global Gas. In this role, he was responsible for overseeing Chevron's global gas business which included an international portfolio of natural gas, liquefied petroleum gas, natural gas liquids and LNG commodities.

After five years of service, Farhad Ahrabi stepped down from the Board on January 1, 2024. In addition, Director, William McAdam, has announced he will not be seeking re-election in 2024. ARC would like to extend its sincerest gratitude to both Mr. Ahrabi and Mr. McAdam for their service to the Company.

CONFERENCE CALL

ARC's senior leadership team will be hosting a conference call to discuss the Company's fourth quarter and full-year 2023 results on Friday, February 9, 2024, at 8:00 a.m. Mountain Time ("MT").

• Date Friday, February 9, 2024
• Time 8:00 a.m. MT
• Dial-in Numbers
• Calgary 587-880-2171
• Toronto 416-764-8659
• Toll-free 1-888-664-6392
• Conference ID 22053891

Callers are encouraged to dial in 15 minutes before the start time to register for the event. A replay will be available on ARC's website following the conference call.

Refer to the accompanying notes to ARC's consolidated financial statements as at and for the year ended December 31, 2023, which are available on ARC's website and under ARC's SEDAR+ profile.

About ARC

ARC Resources Ltd. is a pure-play Montney producer and one of Canada's largest dividend-paying energy companies, featuring low-cost operations and leading ESG performance. ARC's investment-grade credit profile is supported by commodity and geographic diversity and robust risk management practices around all aspects of the business. ARC's common shares trade on the Toronto Stock Exchange under the symbol ARX.

We seek Safe Harbor.