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Yangarra Provides 2021 & 2022 Guidance
Yangarra Provides 2021 & 2022 Guidance Yangarra Provides 2021 & 2022 Gu...
About this update from Yangarra Resources Ltd.
[{"type":"text","content":"\n \n \n \n Yangarra Provides 2021 & 2022 Guidance\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n Yangarra Provides 2021 & 2022 Guidance\n \n \n Canada NewsWire\n \n \n \n \n \n CALGARY, AB\n \n ,\n \n Dec. 1, 2021\n \n /CNW/ -\n \n Yangarra Resources\n \n \n Ltd.\n \n (\"\n \n Yangarra\n \n \" or the \"\n \n Company\n \n \") (TSX:YGR) outlines Q4 2021 and 2022 guidance and provides an operations update.\n \n \n \n Capital Budget & Guidance\n \n \n \n Yangarra's fourth quarter production guidance is 10,000 boe/d with funds flow from operations of\n \n $29 million\n \n , assuming an average price of\n \n CDN$85.00\n \n /bbl for\n \n Edmonton\n \n par and an average price of\n \n CDN$4.00\n \n /GJ for AECO natural gas.  Fourth quarter capital spending is estimated to be\n \n $23 million\n \n which will result in\n \n $6 million\n \n of debt repayment before year-end.\n \n \n The Company's Board of Directors has approved a capital budget of\n \n $105 million\n \n for 2022, which includes the drilling of 30 gross wells.  The budget is expected to increase the Company's annual 2022 average production to 12,000 boe/d with funds flow from operations estimated at\n \n $130 million\n \n . The 2022 budget assumes an average price of\n \n CDN$78.00\n \n /bbl for\n \n Edmonton\n \n par and an average price of\n \n CDN$3.50\n \n /GJ for AECO natural gas.\n \n \n \n Operations Update\n \n \n \n Fourth quarter to date, the Company has brought on four wells and expects to bring on four additional wells in December. In addition, drilling operations have commenced on a fourteen-well pad, with initial completions scheduled for early 2022.\n \n \n \n Bank Review\n \n \n \n The syndicated senior credit facility has been confirmed at\n \n $210 million\n \n .  All other terms remain the same.\n \n \n \n Corporate Presentation\n \n \n \n A revised corporate presentation is available on the Company's webpage:\n \n \n \n https://www.yangarra.ca/financial-reports/presentations/\n \n \n \n \n \n Forward looking information\n \n \n \n \n \n This press release con...