Business
Saturn Oil & Gas Inc. Announces First Quarter 2025 Results Highlighted by Record Production and Adjusted Funds Flow
Production of 41,680 boe/d represents a new quarterly record for the Company Adjusted funds fl...
About this update from Saturn Oil & Gas Inc.
[{"type":"text","content":"Saturn Oil & Gas Inc. Announces First Quarter 2025 Results Highlighted by Record Production and Adjusted Funds FlowProduction of 41,680 boe/d represents a new quarterly record for the CompanyAdjusted funds flow(1) totaled $131.1 million ($0.66/share) with free funds flow(1) of $57.8 million ($0.29/share)Net debt(1) reduced by $46.3 million, or 5%, over year-end 2024US$15 million open market Senior Notes repurchase below par in April 2025 further improves leverage metricsCalgary, Alberta--(Newsfile Corp. - May 7, 2025) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) (\"Saturn\" or the \"Company\"), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan and Alberta, is pleased to report our operating and financial results for the three months ended March 31, 2025, featuring another period of record quarterly production and Adjusted funds flow (\"AFF\")(1). Saturn's financial statements (\"Financial Statements\"), as well as Management's Discussion and Analysis (\"MD&A\") for the three months ended March 31, 2025, are available on our website and filed on SEDAR+ at sedarplus.ca. A conference call and webcast to discuss the Q1/25 results has been scheduled for Thursday, May 8, 2025 at 8:00 am Mountain Time (10:00 am Eastern Time). Access details for the conference call and webcast are provided below.\"Saturn's Blueprint strategy and ability to extract incremental value from our asset base was demonstrated in Q1/25. New wells outperformed type curve by 20% on average, quarterly production volumes came in above both the upper end of guidance and our earlier records, and operational efficiencies were reflected in net operating expenses per boe that were below the low end of our guidance,\" said John Jeffrey, Chief Executive Officer. \"This performance drove record AFF and contributed to strong free funds flow that enabled Saturn to supplement our share buybacks with the repurchase of US$15 million face value of Senior Notes below par subsequent to quarter end. We are well positioned to execute on our strategy while remaining defensive through continued market uncertainty and volatility.\" Q1 2025 HIGHLIGHTSProduction of 41,680 boe/d exceeded peak guidance by 3%, reflecting a successful development program with new wells outperforming type curve(3) estimates by an average of...