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Saturn Oil & Gas Inc. is a Canadian energy company focused on developing high-quality, light oil weighted assets. With a commitment to generating positive shareholder returns, the company pursues an acquisition strategy for complementary opportunities. Saturn's assets include operated assets in Southeastern Saskatchewan, West Central Saskatchewan, and Central Alberta, providing long-term drilling opportunities across multiple zones. The company aims to increase reserves, production, and cash flows while maintaining an ESG-focused culture.
Recent achievements include exceeding expected production rates in the Brazeau area of Central Alberta and Southeast Saskatchewan. Saturn is committed to responsible development and enhancing returns on invested capital. The company has successfully completed drilling programs and acquisitions, positioning itself for growth and profitability.
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Saturn Oil & Gas Inc. announced the granting of annual incentive awards under its long term incentive plan, including 2,653,518 Restricted Share Units and 622,530 Performance Share Units. The RSUs will vest in three equal installments over three years, while the PSUs have a payout ratio of 50%-150% based on performance objectives.
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Saturn Oil & Gas Inc. announces the sale of its non-core Deer Mountain property in North Alberta for $27 million. The property had production of approximately 800 boe/d in March 2024. The sale is expected to close in Q2 2024.
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Saturn Oil & Gas Inc. reports strong financial and operational results for Q4 2023, with record production levels and significant increases in adjusted EBITDA and funds flow. The company achieved a 115% increase in production, generated $100.1 million in adjusted EBITDA, and $80.2 million in adjusted funds flow for Q4 2023. Saturn's strategic focus on light oil assets and cost optimization led to high cash flow margins and shareholder value creation. The acquisition of Ridgeback Resources contributed to growth, expanding production and reserve volumes. Cost reduction efforts improved operating netback and debt repayment commitments. Saturn's 2024 development plan targets drilling up to 61 net wells, with a focus on increasing production and strengthening the balance sheet.
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Saturn Oil & Gas Inc. announces a 131% year-over-year increase in Total Proved + Probable reserves, a $1.4 billion net present value of future net revenue, and a significant production and reserve growth due to a successful drilling program and acquisition of Ridgeback Resources Inc.
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Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces successful drilling of first Open Hole Mult-Lateral Bakken well in Southeast Saskatchewan, with initial 30-day average production of 233 bbls/d of light oil, 49% above expected type curves. Company also brings second well onto production and reduces debt covenant for financial flexibility.
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Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces the purchase of 891,898 common shares by certain purchasers, including Saturn's executives, from a previous shareholder of Ridgeback Resources Inc., subject to a contractual hold period.
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Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces successful drilling results in Southeast Saskatchewan and Central Alberta, with initial production results exceeding type curve expectations. The company is on track to drill up to 48 gross operated wells in 2023, with a strong focus on light oil production.
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Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) reports record quarterly adjusted EBITDA of over $100 million in Q3 2023, driven by record corporate production and operational efficiencies. Key highlights include 140% increase in average production, $201.1 million in petroleum and natural gas sales, and record quarterly adjusted funds flow of $76.5 million.
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Saturn Oil & Gas Inc. placed No. 18 on Canada's Top Growing Companies ranking with three-year growth of 1,929%. The company now has over 280 employees. Saturn's CEO is excited for future accomplishments. 425 companies earned a spot on this year's ranking. Saturn will be presenting at upcoming conferences.
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Saturn Oil & Gas Inc. announces operations update with better well performance and lower capital spending
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FAQ
What is the current stock price of SATURN OIL & GAS (OILSF)?
The current stock price of SATURN OIL & GAS (OILSF) is $1.704 as of October 15, 2024.
What is the market cap of SATURN OIL & GAS (OILSF)?
The market cap of SATURN OIL & GAS (OILSF) is approximately 338.7M.
What is Saturn Oil & Gas Inc. focused on?
Saturn is focused on developing high-quality, light oil weighted assets in Canada.
What are Saturn's recent achievements?
Saturn has exceeded expected production rates in the Brazeau area of Central Alberta and in Southeast Saskatchewan.
What is Saturn's commitment to shareholders?
Saturn is committed to generating positive shareholder returns through responsible development and acquisition strategies.
Where does Saturn operate?
Saturn operates in Southeastern Saskatchewan, West Central Saskatchewan, and Central Alberta.
What is Saturn's goal?
Saturn's goal is to increase reserves, production, and cash flows while maintaining an ESG-focused culture.
What recent drilling programs has Saturn completed?
Saturn has completed successful drilling programs in the Brazeau area of Central Alberta and Southeast Saskatchewan.
How does Saturn aim to enhance returns on invested capital?
Saturn aims to enhance returns on invested capital through responsible development and strategic acquisitions.
What is Saturn's strategy for growth?
Saturn's strategy for growth includes pursuing complementary opportunities and maintaining a focus on light oil assets.
What assets does Saturn own?
Saturn owns operated assets in Southeastern Saskatchewan, West Central Saskatchewan, and Central Alberta.
How does Saturn contribute to ESG initiatives?
Saturn contributes to ESG initiatives by fostering an ESG-focused culture in its operations.
SATURN OIL & GAS INC