Drilled 13 net operated horizontal wells in Q1 2023, with 100% success rate and average initial production exceeding forecast type curves by 37%; Drilled a top 5 best performing oil well in Saskatchewan, Weir Hill 11-21, IP30 149 bbls/d, based on February 2023 production, of the over 200 wells drilled in province for January 2023; and Released Saturn's inaugural Sustainability Report on environmental, social and [...]
Saturn Oil & Gas Inc. today announced that the Company has granted 2,500,000 Restricted Share Units to employees and directors, under the terms of the Company's long term incentive plan . Saturn's Board of Directors made the determination that granting RSUs is a preferable mechanism for the Company's LTIP and will replace the previous grant of inventive stock options announced March 14, 2023. The RSUs are granted at a [...]
Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and twelve months ended December 31, 2022. "2022 was the most active year for light oil development in Saturn's history. The Company drilled 57.5 net horizontal wells targeting light oil, with 100% success," commented Justin Kaufmann, Chief Development Officer. "In addition to the recently closed Ridgeback Acquisition discussed [...]
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 February 21, 2023 and effective December 31, 2022, 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 . The Reserve Report does not include the acquisition [...]
Saturn Oil & Gas Inc. is pleased to announce that further to its press releases of January 20, 2023, it has successfully completed the previously announced acquisition of Ridgeback Resources Inc. , a privately held oil and gas producer focused on light oil production in Saskatchewan and Alberta, for a transaction value of approximately $516 million1. The Ridgeback Acquisition adds: approximately 17,000 boe/d of additional [...]
Drilled 57 gross horizontal wells in 2022 targeting light oil with a 100% success rate Production was 16% above type curve well expectations, on average, for 30-day initial production for the 2022 drilled operated wells Estimated average production for Q4 2022 was a record 12,514 boe/d , in-line with production guidance released in May 2022 Saturn Oil & Gas Inc. is pleased to provide results from its 2022 capital [...]
Saturn Oil & Gas Inc. is pleased to announce that, further to the Company's January 31, 2023 press release, the Subscription Receipts will be listed for trading on the TSX Venture Exchange under the symbol "SOIL.R" effective at the opening of markets on February 3, 2023. On January 31, 2023, the Company closed its previously announced bought deal offering and issued a total of 59,242,000 subscription receipts at a price [...]
Saturn Oil & Gas Inc. is pleased to announce that, further to the Company's January 20, 2023 press release, it has closed its previously announced bought deal offering . Pursuant to the Bought Deal Offering, the Company issued a total of 59,242,000 subscription receipts at a price of $2.11 per Subscription Receipt for gross proceeds of $125,000,620. The Bought Deal Offering was completed by way of a prospectus supplement [...]
Transformational $525 million1 corporate acquisition expands Saturn's pro forma production by approximately 140%, on closing, to ~30,000 boe/d2 of sustainable, light oil focused, high netback production. The Ridgeback Acquisition, comprised of 17,000 boe/d 3, with a proved developed producing reserve value of $915 million4, forecasted 12-month Net Operating Income3/ Operating Free Funds Flow3 of $311 million / $228 [...]
Saturn Oil & Gas Inc. is pleased to report its financial and operating results for the three and nine months ended September 30, 2022. "The third quarter of 2022 is the first reporting period reflecting the highly positive impact of the Viking acquisition, closed on July 6, 2022, in terms of increased netbacks and additional production, resulting in record corporate cash flow," commented John Jeffrey, Chief Executive [...]
Saturn Oil & Gas Inc. is pleased to announce that it has qualified to trade on the OTCQX® Best Market, and Kevin Smith, Saturn's Vice President Corporate Development will be presenting a webcast at the International Investment Forum on September 27, 2022. OTCQX Upgrade Saturn begins trading today on OTCQX under the symbol "OILSF." The Company upgraded to OTCQX from the Pink® market. U.S. investors can find current [...]
Saturn Oil & Gas Inc. is pleased to provide results to date from its 2022 drilling program, its new re-drill program to enhance production of existing low to non-producing horizontal wells, and the results of the annual general and special meeting of shareholders. The 2022 drilling program has been focused on Saturn's two operational areas, the Oxbow Asset in Southeast Saskatchewan, and the Viking Asset in West-central [...]
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