ARC Resources Ltd Q3 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Travis Wood - National Bank Financial, Inc., Research Division - Analyst : Yes. I want to stay on Attachie and maybe 2 parts to this question, if I can. First, what do you guys need from these negotiations? What are you expecting out of these negotiations to provide some more certainty and clarity? And then what does that critical path look like for you guys to start to commit incremental capital to Attachie? And then the last part would be, if we see delays into 2022, was there a cushion on the onstream date kind of the back end of '23? Like do you expect that, that on stream for 2023 changes, even though there are potentially some upfront delays on Attachie? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. NOVEMBER 05, 2021 / 2:00PM, ARX.TO - Q3 2021 ARC Resources Ltd Earnings Call

Question: Aaron Bilkoski - TD Securities Equity Research - Analyst : Just a follow up on Jeremy's question. If we assume the regulatory after BC settled and more capital spent at Attachie in 2022 than in the preliminary budget. Does this slow the pace of buybacks and future dividend increases? Or does the CapEx come out of the remaining 20% to 50% of the free cash flow that's allocated to the balance sheet?

Question: Michael Steve Harvey - RBC Capital Markets, Research Division - Analyst : So just had a question about the use of free cash. So you kind of mentioned that it's unlikely to be used for M&A. Just wondering if you could provide us some details on that. Is it just pure efficiencies that are driving that, so yours are better than others? Are the assets just not available that would be complementary? Is it pricing? Or is there -- are you just kind of full up with 7G and your own stuff right now? Just any thoughts from the team and the Board on kind of how you guys are thinking about that. Obviously, some mixed views from your peers on that point.