Saturn Oil & Gas Inc.

Saturn Oil & Gas Inc is pleased to announce the Company's 2024 capital and operating budget reflecting a focus on maximizing near term free funds flow, continued rapid debt repayment, sustainable oil and gas production with high returns on capital investment. HIGHLIGHTS OF 2024 GUIDANCE Sustainable Oil Weighted Production: 2024 average production is forecasted between 26,500 to 27,500 boe/d ; High Margin Adjusted Funds [...]

Saturn Oil & Gas Inc. is pleased to announce the results of the independent reserves evaluation of the Company's crude oil and natural gas assets, dated January 29, 2024 and effective December 31, 2023, in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and in accordance with the Canadian Oil and Gas Evaluation Handbook . Reserves Evaluation Highlights The Company's Reserve [...]

Saturn Oil & Gas Inc. is pleased to announce the Company's first Open Hole Mult-Lateral Bakken well drilled in the Viewfield area of Southeast Saskatchewan, 101/01-07-011-06W2 , had initial 30-day average production of approximately 233 bbls/d of light oil, which is 49%1 above the Company's expected IP30 type curves for OHML Bakken wells drilled in the area. The Viewfield 01-07 was drilled with eight open hole [...]

Saturn Oil & Gas Inc. announces that pursuant to an agreement between certain purchasers, including Saturn's executives , and a previous shareholder of Ridgeback Resources Inc. , the Saturn Purchasers have purchased an aggregate of 891,898 common shares of Saturn . The Subject Shares were previously issued in connection with Saturn's acquisition of Ridgeback on February 28, 2023. The Subject Shares remain subject to a [...]

Saturn Oil & Gas Inc. is pleased to announce the initial production results for its most recently drilled 13 gross wells, including Saturn's first development of Alberta Cardium and Saskatchewan Bakken light oil targets. Saturn has continued its success in the development of its deep inventory of locations in Southeast Saskatchewan including the best performing group of Frobisher wells the Company has drilled to date [...]

Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and nine months ended September 30, 2023. "Saturn reached a new milestone in its goal of creating sustainable free cash flow by achieving record quarterly adjusted EBITDA of over $100 million in the third quarter." commented John Jeffrey, Chief Executive Officer of Saturn. "This achievement stemmed from record corporate production [...]

Saturn Oil & Gas Inc. is pleased to announce it placed No. 18 on the 2023 Report on Business ranking of Canada's Top Growing Companies. Canada's Top Growing Companies ranks Canadian companies on three-year revenue growth. Saturn earned its spot with three-year growth of 1,929%. "We are very proud of the Saturn family of employees as we have grown from a group of seven a few years ago, to now over 280 employees strong [...]

Saturn Oil & Gas Inc. today announces an operations update highlighted by well performance that has exceeded expectations from the Company's recent Spearfish drilling at the Oxbow area, along with providing updated guidance for the balance of 2023 that reflects lower capital spending with better well performance. "Our Spearfish light oil drilling program has generated capital efficiencies that are among the strongest [...]

Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and six months ended June 30, 2023. "The three months ended June 30, 2023 represent the first full quarter of positive contribution from the recently completed acquisition of Ridgeback which has driven record quarterly production and cash flow," commented John Jeffrey, Chief Executive Officer of Saturn. "Saturn is focused on [...]

Saturn Oil & Gas Inc. announces that the majority of the Company's outstanding warrants expired between June 3, 2023 and July 7, 2023, and the Company's largest shareholder GMT Capital Corp. , and certain of GMT's affiliates, recently announced the acquisition of an additional 6,994,049 common shares of Saturn resulting in holdings as of June 30, 2023 of an aggregate of 34,531,029 Common Shares, representing approximately [...]