Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

More From The Market Herald

" Buzz on the Bullboards: Defying market expectations

Most market reviews are throwing around the dreaded R-word, “recession” like it’s going out of style.

" Kraken Energy (CSE:UUSA) announces option to acquire Garfield Hills Uranium Project

Kraken Energy (UUSA), through its wholly-owned subsidiary, NevadoCo, has signed an option agreement to acquire the Garfield Hills Uranium Property.
First Helium Inc. - President & CEO, Ed Bereznicki.

" First Helium (TSXV:HELI) begins trading on the OTCQX

Common shares of First Helium (HELI) have qualified to upgrade from the OTCQB Venture Market to the OTCQX Best Market. 
The Market Herald Video

" High Tide Resources (CSE:HTRC) reports assay results from Labrador West Iron Project

High Tide Resources Corp. (HTRC) has reported assay results from the 2022 drilling program at its flagship Labrador West Iron Project.