- Saturn Oil & Gas (SOIL) has reported its financial and operating results for the three and nine months ended September 30, 2021
- John Jeffrey, Chief Executive of Saturn sat down with Caroline Egan to highlight the results
- Average production of 6,970 boe/d (96 per cent oil and NGLs) in Q3 2021 compared to 499 boe/d in the third quarter of 2020
- Invested $4.5 million development capital in the third quarter, including the drilling of three successful wells on its Viking Property
- Saturn Oil & Gas is an energy company focused on the acquisition, exploration, evaluation, and production of resource properties in Canada
- Shares in Saturn Oil & Gas Inc. (SOIL) are down 2.56 per cent on the day, trading at $4.18 per share at 2:30 pm ET
Saturn Oil & Gas (SOIL) has reported its financial and operating results for the three and nine months ended September 30, 2021.
John Jeffrey, Chief Executive of Saturn sat down with Caroline Egan to highlight the results.
Q3 highlights:
- Average production of 6,970 boe/d (96 per cent oil and NGLs) in Q3 2021 compared to 499 boe/d in the third quarter of 2020
- Adjusted funds flow of $13.9 million in the three months ended September 30, 2021 compared to $1.0 million in Q3 2020
- Operating netback for the three and nine months ended September 30, 2021 of $28.83 per boe and $29.55 per boe
- Invested $4.5 million development capital in the third quarter, including the drilling of three successful wells on its Viking Property
- Free funds flow of $9.5 million in Q3, excluding property acquisition expenditures of $2.6 million relating to the Oxbow Asset
- Ended the third quarter with $71.8 million net debt, compared to $74.5 million at the end of the previous quarter
Saturn Oil & Gas is an energy company focused on the acquisition, exploration, evaluation, and production of resource properties in Canada.
Its focus is to advance the exploration of its oil and gas properties in west-central and southeast Saskatchewan.
Shares in Saturn Oil & Gas Inc. (SOIL) are down 2.56 per cent on the day, trading at $4.18 per share at 2:30 pm ET.