Saturn Oil & Gas Inc. ( (OILSF) ) has released its Q3 earnings. Here is a breakdown of the information Saturn Oil & Gas Inc. presented to its investors.
Saturn Oil & Gas Inc., a Canadian energy company, is focused on the development of light oil-weighted assets in Saskatchewan and Alberta, aiming to increase production and cash flow through strategic acquisitions and operational efficiency.
In its Q3 2024 earnings report, Saturn Oil & Gas Inc. reported record quarterly production, Adjusted EBITDA, and Adjusted Funds Flow. The company highlighted its strategic achievements, including substantial production growth and financial flexibility.
The company’s production averaged 39,049 boe/d, a significant increase from the previous quarters, attributed to the acquisition of Battrum and Flat Lake assets. Saturn also achieved a corporate record Adjusted EBITDA of approximately $136 million, despite lower oil prices, and completed a share buyback program. The company’s strategic refinements in its hedge book amid oil price volatility further showcased its adaptability and financial strategies.
Looking forward, Saturn Oil & Gas Inc. aims to continue enhancing shareholder value by pursuing additional strategic acquisitions, optimizing production, and maintaining financial discipline. The company remains committed to its growth strategy, focusing on increasing per-share metrics and operational efficiency.
