All dollar amounts discussed today are in Canadian dollars, unless otherwise stated. And finally, grow the base dividend as we execute on these priorities to provide an attractive total return that is sustainable for our shareholders. Or would you need to refresh that when you go to Board approval for that project later this year if it goes that way?
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%. Reporting by Patrick Werr Editing by Frances Kerry). The completion of the Sunrise expansion and water infrastructure investment at Kakwa, the absence of onetime investment to restore production in BC and lower anticipated base declines at Kakwa. We look forward to booking the reserves associated with Attachie as the project is developed. At this time I would like to welcome everyone to the ARC Resources Fourth Quarter and Year-End 2022 Earnings Conference Call. Today, we have 2 rigs actively drilling and the level of activity will increase over the course of the year. The deal piqued the interest of a significant number of investors, with roughly 750 meetings set up to market the IPO, one source said. In 2024, we would expect capital spending to decrease by roughly 15%, excluding Attachie, while production is expected to be flat or higher than in 2023. For ARC specifically, we continue to engage with the indigenous communities neighboring our operations and work alongside the BC government and the energy regulator to ensure we have clarity in all aspects of the process. What year did bc open their ipo debuts overseas. If you work with a start-up or smaller company, learn more about preparing for the process of full certification by becoming a Pending B Corporation. Or could you move some of that equipment from Alberta where most of your fleet is working now as things kind of quiet down there? These are our priorities and I look forward to sharing our progress on them in the quarters to come.
Therefore, we have a clear line of sight to fully execute the 2023 program as planned. But I think we can manage it within the portfolio of rigs that we have today. The offering was oversubscribed multiple times at the bottom of the proposed valuation range. We like everything that's in there. Establishing a new framework to sustainably develop that resource is critical. I guess this is probably for you, Terry. Michael Harvey - RBC Capital Markets. At this point you will learn your baseline score; if it is under the 80-point benchmark, reevaluate and prioritize improvement areas. 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. They build trust with consumers, communities, and suppliers; attract and retain employees; and draw mission-aligned investors. What year did bc open their ipo price. This really shows how we are at the very early stage of development in Dawson. And one final question for me.
The benefits of our market diversification, a low-cost structure and a diversified commodity mix, in which revenue is split approximately 50-50 between natural gas and liquids, contributed to a 67% margin in the quarter. IONOS shares slip below IPO price at start of trading | Financial Post. These are anticipated to be fully restored this month. You mentioned the strong performance revisions at Kakwa in your year-end reserves. First, the agreements executed between the BC government and the Treaty 8 First Nations pertain strictly to Crown lands. Shares started trading at 18.
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. IONOS parent United Internet and minority shareholder Warburg Pincus could make as much as 447 million euros from the flotation. So that's really what we are waiting for. Could you may be shed some light on what some of those specific details are that you're looking at? Egypt opens 4,000-year-old tomb on Luxor's West Bank, oldest open to public | Nasdaq. Unlike other certifications for businesses, B Lab is unique in our ability to measure a company's entire social and environmental impact. The tomb, which faced the procession avenue to Mentuhotep II's temple, contains a corridor leading to an offering chapel with a niche for a statue of the deceased. An analyst from B Lab Global will look over your company structure, any controversial industries, as well as your answers to the entire Assessment. And the process to achieve and maintain certification is rigorous and requires engaging teams and departments across your company. ARC has been engaged, I guess, with the Ministry of Mines, Energy and Low Carbon Innovation in BC as well as BCOGC.
That's the beauty of our asset base. ARC continued to strengthen its balance sheet in the fourth quarter by reducing debt by an additional $240 million.
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