Saturn Oil & Gas Inc.

Saturn Oil & Gas Inc. is pleased to announce that, further to the Company's May 6, 2024 press release, it has closed its previously announced bought deal offering of subscription receipts . Pursuant to the Bought Deal Offering, the Company issued a total of 42,554,000 subscription receipts at a price of $2.35 per Subscription Receipt for gross proceeds of $100,001,900. The Bought Deal Offering was completed by way of the [...]

TORONTO, May 15, 2024 /CNW/ - The following issues have been halted by CIRO: Company: Saturn Oil & Gas Inc. TSX Symbol: SOIL.R All Issues: No Reason: Pending Closing Halt Time : 08:00 AM ET CIRO can make a decision to impose a temporary suspension of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. CIRO is the national self-regulatory organization which [...]

Saturn Oil & Gas Inc. is pleased to announce that in connection with its previously announced bought-deal subscription receipt financing for aggregate gross proceeds of approximately $100 million , the Company has filed a prospectus supplement to its short form base shelf prospectus dated May 19, 2022, as amended pursuant to amendment no. 1 to the short form base shelf prospectus dated May 2, 2024 . The Prospectus [...]

Accretive acquisition of select assets in Southeast and Southwest Saskatchewan that collectively add 13,000 boe/d of 96% liquids-weighted production, 950 gross identified drilling locations, expands Tier 1 drilling inventory by 65% and establishes Saturn as the 6th largest producer in the Province of Saskatchewan US$625 million committed debt financing that will replace the Company's existing senior secured term loan at a [...]

Saturn Oil & Gas Inc. is pleased to announce the initial production results for its most recently drilled nine gross wells, including the Company's first development of the Brazeau field in Central Alberta for Cardium light oil and natural gas. In addition, Saturn continued its successful development of conventional horizontal wells in Southeast Saskatchewan, with outstanding average initial production rates. The [...]

Saturn Oil & Gas Inc. today announced that it has granted its annual incentive award grants under the terms of its shareholder approved omnibus long term incentive plan . The annual grant includes 2,653,518 Restricted Share Units and 622,530 Performance Share Units issued to directors, officers and employees of the Company. The awards may be settled in cash or common shares of the Company issued from treasury or purchased [...]

Saturn Oil & Gas Inc. is pleased to announce the Company has entered into a definitive agreement with a private operator to sell its non-core Deer Mountain property in North Alberta for cash of $27 million, less customary closing adjustments. The Deer Mountain Block had production of approximately 800 boe/d in March 2024, based on field estimates. The sale of the Deer Mountain Block is expected to close on or about May 1 [...]

Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and twelve months ended December 31, 2023. "2023 was a tremendous year of progress for Saturn in creating a substantial and sustainable free cash generating enterprise. In addition to doubling our production base over last year, we have assembled a deep inventory of high-quality development drilling locations to sustain current [...]

Saturn Oil & Gas Inc. is pleased to announce that, further to the Company's February 6, 2024 press release, it has closed its previously announced bought deal private placement offering . Pursuant to the Offering, the Company issued a total of 22,223,000 common shares at a price of $2.25 per Common Share for aggregate gross proceeds of $50,001,750, with Echelon Capital Markets acting as lead underwriter and sole [...]

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 [...]