However, our competitive strengths were also evident. What year did bc open their ipo stocks. What does that consider currently in the Lower Montney? And while the economic incentive is there to grow supply today, there are limiting factors to the pace of growth. B Corp Certification is holistic, not exclusively focused on a single social or environmental issue. As far as the conde versus gas, we saw positive technical revisions in both categories for Kakwa.
I know many are wondering about Attachie and when we'll move forward on this landmark development opportunity. I will turn the conference back to Mr. Lewko for closing remarks. Second is an operational update, focused primarily on Kakwa and year-end reserves which are both positive stories. A meaningful portion of orders came from hedge funds in the run-up to the listing, a source close to the matter said before books closed on Tuesday. We look forward to booking the reserves associated with Attachie as the project is developed. 3 billion which is equivalent to 25% of our market cap today. Recertification confirms these standards continue to be met on an ongoing basis. As far as drilling at Kakwa, I want to say the sustaining well count is sort of in that 60 to 80 well count dependent on which area of the field. 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. As I reflect back on the past year and look ahead at what's to come, there are 3 key items that stand out. Egypt opens 4,000-year-old tomb on Luxor's West Bank, oldest open to public | Nasdaq. It was a record year for our company on several operational and financial measures. Now it's time to Launch! So from a logistics perspective, we have 11 rigs active today.
We look forward to connecting with you on any further questions you might have in the future. While the certification process varies depending on your company's size and complexity, all companies must do the following to become a B Corp. B Lab Global and your regional B Lab or Sistema B organization are here to help. So specific to Kakwa, as far as the performance, you're right. The China Securities Regulatory Commission's plan unveiled this week eases rules for initial public offerings across all of its exchanges that will simplify and quicken the process. Third, at the end of the year, we also advanced our status as an ESG leader. It's a very significant milestone. What year did bc open their ipo in usa. It looks like you built up a sizable backlog of drilled uncompleted wells at Kakwa in Q4. 4 billion which is within guidance and generated $2. Large companies that previously would have turned to Hong Kong could consider the onshore market, he said. We envision a global economy that uses business as a force for good.
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. And I just have another follow-up on the inventory at Kakwa. Unlike other certifications for businesses, B Lab is unique in our ability to measure a company's entire social and environmental impact. First, we grew reserves across all categories by 14% to 22% per share as a result of strong well performance, PDP reserves at Kakwa specifically increased by 17%. At the beginning of the B Corp Certification process, companies must undergo an assessment of risk factors based on their industry and other practices. The improved well performance at Kakwa resulted in an excellent year for reserves which really highlights the depth and quality of our Montney inventory. Pairing this with well cost reductions, we achieved a lower sustaining capital and further improved capital efficiencies at the largest condensate producing asset in Canada. As an industry, we produce some of the lowest emissions, lowest cost natural gas in the world. As they are required to undergo the verification process every three years in order to recertify, B Corps are by definition also focused on continuous improvement, leading to their long-term resiliency. IONOS shares slip below IPO price at start of trading | Financial Post. So when you think about what's in our reserves report, that will be entirely focused on the Middle Montney.
At Kakwa, the layers are a little bit closer together and we don't see that same segregation. Michael Harvey - RBC Capital Markets. Good morning, everyone and thank you for joining us for our fourth quarter and year-end results conference call. At this time I would like to welcome everyone to the ARC Resources Fourth Quarter and Year-End 2022 Earnings Conference Call. 31 per Mcf, roughly 50% above the AECO benchmark in the fourth quarter. 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. 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. Patrick O'Rourke - ATB Capital Markets. So that's well laid out. Everything that we have is core and makes it simple because we've done a lot of the cleaning up over the years on this but that's where we sit today. What year did bc open their ipo price. Reporting by Patrick Werr Editing by Frances Kerry). 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. Company Participants. Meru's rock-hewn tomb was restored by the Polish Centre for Mediterranean Archaeology at the University of Warsaw and Egypt's Supreme Council of Antiquities.
First, market diversification, as Terry mentioned, was critical. Aaron Bilkoski - TD Securities. We will continue to execute on our strategy of per share growth through disciplined investment in our asset base and a meaningful return of capital to optimize total return.
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