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The latest update is out from Stonehorse Energy Ltd ( (AU:SHE) ).
Stonehorse Energy has reported strong operational progress at its Drumheller oil development in Alberta, where wells #2, #3 and #4 were drilled ahead of schedule and under budget, each to an average depth of 4,490 meters. Wells #2 and #3 have been safely completed with about 90 frac stages each and are being connected to existing infrastructure, while completion work is underway on well #4, with all three new wells expected to begin oil production early in the second quarter of 2026.
The company’s first Drumheller well, brought online in late 2025, is outperforming budget expectations, underscoring the potential of the broader development area, where the operator has identified more than 80 additional well locations and Stonehorse holds an option to extend the drilling program on similar terms. To support its capital commitments of C$1.85 million per well for a 35% working interest, Stonehorse has secured a C$1.3 million promissory note facility, secured against its interest in Drumheller #4, which spreads repayment out to March 2029 and underpins its growth plans in North American onshore oil.
The most recent analyst rating on (AU:SHE) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Stonehorse Energy Ltd stock, see the AU:SHE Stock Forecast page.
More about Stonehorse Energy Ltd
Stonehorse Energy Limited is an Australian-based exploration and production company focused on onshore oil and gas assets in Canada and the United States. The company’s strategy is to build a portfolio of high-quality wellbore interests, tailoring its working interest stakes to its risk appetite and available capital, with a current emphasis on the Drumheller oil development in Alberta, Canada.
Average Trading Volume: 6,171,356
Technical Sentiment Signal: Sell
Current Market Cap: A$7.53M
See more data about SHE stock on TipRanks’ Stock Analysis page.