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  • Saturn Oil & Gas (SOIL) has released its financial and operating results for the three months ended March 31, 2022
  • Kevin Smith, VP of Corporate Development sat down with Coreena Robertson to discuss the results
  • 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$2.82 per share

Saturn Oil & Gas (SOIL) recently released its financial and operating results for the three months ended March 31, 2022.

Kevin Smith, VP of Corporate Development sat down with Coreena Robertson to discuss the results.

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$2.82 per share.

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