RE:RE:RE:RE:Shorts keeping things in checkBro....they did explain their plans...just need to read the details and research....
From press release "If commodity prices maintain current levels, Yangarra expects to keep one rig fully utilized for the year."
That should tell you things are in flux based on commoddity prices.
And they said 17 wells and the reason why it is 20 wells on the presentation is YGR had 3 wells drilled in late 2019 that they carried over into 2021 to be frac ed and completed. This would mean 20 wells online in 2021.
This is why YGR production is better then it looks. They only started drilling again in the fall.
Ygr stopped drilling in like mid feb and didn't start drilling again until sept...considering the context I am stoked that production is even 9,000 BOE. We should be able to get to over 10,000 BOE fairly fast.
YGR completed some earlier wells in Q3...but because YGR started drilling so late in the year...they only in the 4th Q completed 2 wells with Nov Production and 2 wells in Dec production.
So when YGR says they have drilled 4 wells and also completed 4 wells....they really have more wells too complete in March beyond the 4 drilled.
Shouldnt be much issue with getting to 13,000 BOE exit plus if we utilize a rig for the rest of the year if commodities hold.
1 rig does 2 wells fairly easily per month.
If we utilize a rig for rest of the year because commodity prices justify it then we likely drill 24 wells this year.
1 rig working continuous and dong 24 wells drilled per year is the perfect sweet spot amount. Glad YGR changed this as I believe they used to have 2 rigs working and 30 plus wells in plans.
24 wells per year is perfect sweet spot to show growing production and eventually FCF.
margaritaman wrote: At the very least they could be consistant in their messaging in the MD&A and the Corporate Presentaion. 17 wells or 20 which is it? You can be in the shallow end of the pool and get that much right!