Saturn Oil & Gas Inc. (TSE:SOIL) has released an update.
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Saturn Oil & Gas Inc. has delivered a robust performance in Q1 2024, with a significant increase in production averaging 26,394 boe/d and a substantial rise in adjusted EBITDA to $88.2 million. The company’s focused developments in Southeast Saskatchewan and Central Alberta resulted in record-breaking initial production rates, contributing to a strong quarterly adjusted funds flow of $68.2 million. Additionally, Saturn Oil & Gas has made progress in debt reduction, ending the quarter with $386.4 million in net debt and a net debt to annualized quarterly adjusted funds flow ratio of 1.4x.
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