- Saturn Oil & Gas (SOIL) has reported its financial and operating results for the three months ended March 31, 2022
- Highlights include record production averaging 7,499 boe/d, $16.3 million in EBITDA and record adjusted funds flow of $13.5 million
- Saturn Oil & Gas is a Canadian energy company
- Saturn Oil & Gas Inc. (SOIL) opened trading at C$2.89 per share
Saturn Oil & Gas (SOIL) has reported its financial and operating results for the three months ended March 31, 2022.
John Jeffrey, Saturn’s CEO commented on the results.
“The first quarter of 2022 was another record period for production for Saturn, generating $16.3 million in EBITDA. With March 2022 production reaching 7,600 boe/d, Saturn is on pace to meet or exceed the guidance of production averaging 7,800 to 8,200 boe/d for 2022.”
Q1 highlights:
- Achieved record production averaging production of 7,499 boe/d compared to 233 boe/d in the first quarter of 2021, an increase of 3,118 per cent
- Generated record adjusted funds flow of $13.5 million compared to $0.1 million in Q1 2021
- Closed a bought-deal financing and a non-brokered private placement for gross proceeds of $20.6 million
- Generated first quarter free adjusted funds flow of $3.0 million
- Exited the first quarter with $65.2 million in net debt
Saturn Oil & Gas Inc. is a Canadian energy company focused on generating positive shareholder returns through the continued responsible development of high-quality, light oil-weighted assets, supported by an acquisition strategy that targets highly accretive, complementary opportunities.
Saturn Oil & Gas Inc. (SOIL) opened trading at C$2.89 per share.