CALGARY, AB, July 6, 2026 /CNW/ - Logan Energy Corp. (TSXV: LGN) ("Logan" or the "Company") is pleased to announce increased 2026 production guidance, an expanded 2026 capital budget and an update on recent operational performance and land acquisitions.
UPDATED GUIDANCE HIGHLIGHTS
Increased 2026 average production guidance to 17,000 to 18,000 BOE/d, up 1,000 BOE/d from previous guidance of 16,000 to 17,000 BOE/d.
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The 2026 guidance midpoint of 17,500 BOE/d delivers 34% growth over 2025 annual average production of 13,088 BOE/d.
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Second half 2026 production guidance increased to 19,000 to 20,000 BOE/d (previously 18,000 to 19,000 BOE/d), reflecting continued growth momentum.
The expanded capital program is expected to meaningfully strengthen the Company's 2026 exit rate and will also have a significant impact on our 2027 production base.
Increased forecast Adjusted Funds Flow to $164 million from $139 million.
Expanded the 2026 capital budget by $55 million to $230 to $240 million from $175 to $185 million:
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Added five net wells to the 2026 program, consisting of three net wells at Pouce Coupe and two net wells at Simonette, all expected to be onstream in the fourth quarter of 2026.
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Advanced procurement of long-lead equipment for the North Simonette oil battery, with construction planned for the first quarter of 2027.
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Forecast year-end Net Debt of $175 million.
"Strong first-half well performance has increased our confidence in the depth and quality of Logan's Montney inventory. While the recent pullback in oil prices has been sharper than many anticipated, we believe current prices do not fully reflect underlying supply and demand fundamentals, and our Montney wells deliver compelling returns across a range of commodity price scenarios. The expanded program accelerates our highest-return development at a point we see as an attractive entry into the cycle. At the same time, we have built deliberate flexibility into the program that allows us to respond quickly if prices weaken further and to protect the strength of our balance sheet," said Richard McHardy, Chief Executive Officer of Logan.
OPERATIONS UPDATE
Building on the operations update provided alongside first quarter results on May 12, 2026, Logan is pleased to provide the following operational updates:
Q2 Production: Based on field estimates, production for the second quarter of 2026 is expected to average approximately 17,000 BOE/d (61.8 mmcf/d, 1,200 bbls/d of NGLs and 5,500 bbls/d of oil and condensate).
Pouce Coupe 7-12 Pad (3.0 net wells): Three wells targeting Lower Middle Montney (D1) oil were placed onstream May 2, 2026. Initial results are exceeding expectations with the pad averaging 668 bbls/d of oil, 84 bbls/d of NGLs and 2.7 mmcf/d of natural gas (1,202 BOE/d, 63% liquids) per well for the first 30 days on production.
Pouce Coupe 15-15 Pad (3.0 net wells): Three wells targeting Lower Middle Montney (D1) oil were placed onstream May 23, 2026. Early performance has been strong and meeting expectations with the pad averaging 383 bbls/d of oil, 48 bbls/d of NGLs and 1.6 mmcf/d of natural gas (705 BOE/d, 61% liquids) per well for the first 30 days on production.
Pouce Coupe Drilling: The drilling rig has returned to the 15-15 Pad to add a three well phase as part of the expanded budget scope. This second phase of 15-15 is expected to be onstream at the beginning of October 2026.
Simonette 16-13 Pad (4.0 net wells): Drilling operations in Simonette resumed in June following spring breakup. With the budget expansion, the 16-13 Pad increased from 2.0 to 4.0 net wells. Completion operations are scheduled for September, with onstream planned prior to the end of October of this year.
Simonette 6-9 Pad (3.0 net wells): The pad is awaiting completion operations which are scheduled later this month, with the wells expected to be onstream in September 2026.
South Simonette Oil Battery (13-22): Construction of the battery is underway, with completion of construction and commissioning scheduled for September 2026 to facilitate the production ramp up in South Simonette.