SATURN OIL & GAS INC - $OILSF STOCK NEWS

Welcome to our dedicated page for SATURN OIL & GAS news (Ticker: $OILSF), a resource for investors and traders seeking the latest updates and insights on SATURN OIL & GAS stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect SATURN OIL & GAS's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of SATURN OIL & GAS's position in the market.

05/01/2024 08:30 AM

News

Saturn Oil & Gas Inc. Announces its First Development of Cardium Wells at Brazeau and Continued Successful Development in Southeast Saskatchewan

Rhea-AI Summary

Saturn Oil & Gas Inc. announced its successful development in Central Alberta at the Brazeau field for Cardium light oil and natural gas, with initial production results of nine wells exceeding expectations. The company continued its positive development in Southeast Saskatchewan, surpassing type curve IP30 production rates. Total capital costs for drilling nine wells in Q1 2024 were below budget. Saturn plans to release its first quarter financial results soon.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.55%

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04/02/2024 07:19 PM

News

Saturn Oil & Gas Inc. Announces Annual Incentive Award Grants

Rhea-AI Summary

Saturn Oil & Gas Inc. announced the granting of annual incentive awards under its long term incentive plan, including 2,653,518 Restricted Share Units and 622,530 Performance Share Units. The RSUs will vest in three equal installments over three years, while the PSUs have a payout ratio of 50%-150% based on performance objectives.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

2.15%

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04/01/2024 06:42 PM

News

Saturn Oil & Gas Inc. Announces Sale of Non-Core Deer Mountain Property

Rhea-AI Summary

Saturn Oil & Gas Inc. announces the sale of its non-core Deer Mountain property in North Alberta for $27 million. The property had production of approximately 800 boe/d in March 2024. The sale is expected to close in Q2 2024.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.59%

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03/12/2024 07:43 PM

News

Saturn Oil & Gas Inc. Reports 2023 Year-End Results Highlighted by Record Annual Production and Free Funds Flow

Rhea-AI Summary

Saturn Oil & Gas Inc. reports strong financial and operational results for Q4 2023, with record production levels and significant increases in adjusted EBITDA and funds flow. The company achieved a 115% increase in production, generated $100.1 million in adjusted EBITDA, and $80.2 million in adjusted funds flow for Q4 2023. Saturn's strategic focus on light oil assets and cost optimization led to high cash flow margins and shareholder value creation. The acquisition of Ridgeback Resources contributed to growth, expanding production and reserve volumes. Cost reduction efforts improved operating netback and debt repayment commitments. Saturn's 2024 development plan targets drilling up to 61 net wells, with a focus on increasing production and strengthening the balance sheet.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

2.87%

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01/30/2024 05:20 PM

News

Saturn Oil & Gas Inc. Announces 145 Million BOE of Reserves and Proved Developed Producing Net Present Valve 10% of $1.4 Billion

Rhea-AI Summary

Saturn Oil & Gas Inc. announces a 131% year-over-year increase in Total Proved + Probable reserves, a $1.4 billion net present value of future net revenue, and a significant production and reserve growth due to a successful drilling program and acquisition of Ridgeback Resources Inc.

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End-of-Day

-- %

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01/04/2024 07:07 PM

News

Saturn Oil & Gas Inc. Announces Initial Production Results of First OHML Bakken Well Above Expectations and Updated Debt Covenant

Rhea-AI Summary

Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces successful drilling of first Open Hole Mult-Lateral Bakken well in Southeast Saskatchewan, with initial 30-day average production of 233 bbls/d of light oil, 49% above expected type curves. Company also brings second well onto production and reduces debt covenant for financial flexibility.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

5.92%

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12/20/2023 08:30 AM

News

Saturn Oil & Gas Inc. Announces Employees' Share Purchase

Rhea-AI Summary

Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces the purchase of 891,898 common shares by certain purchasers, including Saturn's executives, from a previous shareholder of Ridgeback Resources Inc., subject to a contractual hold period.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2.89%

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12/05/2023 05:59 PM

News

Saturn Oil & Gas Inc. Announces its First Development of Cardium and Bakken Light Oil and the Highest Initial Production Rates on New Frobisher Wells to Date

Rhea-AI Summary

Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) announces successful drilling results in Southeast Saskatchewan and Central Alberta, with initial production results exceeding type curve expectations. The company is on track to drill up to 48 gross operated wells in 2023, with a strong focus on light oil production.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

1.23%

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11/07/2023 07:02 PM

News

Saturn Oil & Gas Inc. Reports Q3 2023 Financial and Operational Results Highlighted by Record Quarterly Production and Adjusted EBITDA

Rhea-AI Summary

Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) reports record quarterly adjusted EBITDA of over $100 million in Q3 2023, driven by record corporate production and operational efficiencies. Key highlights include 140% increase in average production, $201.1 million in petroleum and natural gas sales, and record quarterly adjusted funds flow of $76.5 million.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2.86%

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10/04/2023 08:00 AM

News

Saturn Oil & Gas Inc. places No. 18 on The Globe and Mail's Fifth-Annual Ranking of Canada's Top Growing Companies

Rhea-AI Summary

Saturn Oil & Gas Inc. placed No. 18 on Canada's Top Growing Companies ranking with three-year growth of 1,929%. The company now has over 280 employees. Saturn's CEO is excited for future accomplishments. 425 companies earned a spot on this year's ranking. Saturn will be presenting at upcoming conferences.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-6.4%

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