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Yangarra Resources Ltd T.YGR

Alternate Symbol(s):  YGRAF

Yangarra Resources Ltd. is a Canadian junior oil and gas company engaged in the exploration, development and production of clean natural gas and conventional oil. The Company has its main focus in the Western Canadian Sedimentary Basin. The Company has developed its land base to target the halo Cardium at Ferrier, Chedderville, Cow Lake, Chambers, O’Chiese, and Willesden Green with a focus on exploiting the prolific bioturbated zone as part of the entire Cardium package.


TSX:YGR - Post by User

Comment by TheRexmemberon Jul 30, 2023 4:34pm
140 Views
Post# 35563926

RE:RE:RE:RE:RE:RE:RE:RE:Thoughts?

RE:RE:RE:RE:RE:RE:RE:RE:Thoughts?

Kav : Regarding the rest of your post, we should see next week how accurate the presentation and guidance are/ were. 
 

The yearly capex forecast was 125 million with roughly 50% to be spent in Q1. They put up a gas plant and drilled 21 wells in Q1, 7 of which were completed in Q2. 

BNE capex is to drop sharply in Q2 and Q3 if they follow the schedule to total about 30 to 35 million combined.

It picks up again in Q4, with 30 million ish budgeted to grow exit production this year.

There might be some impact from the Cdn dollar and gas prices. We are heading into the best 2 gas seasons though. 

They used 74.50 WTI for the last three quarters - that leaves 6 months to catch up with a small $3-4.00 drop in Q2 WTI to equal guidance.

Production was off about 2500 boe/d  for the month of May.  Not sure how old the wells were, gas weighting etc. but production was above forecasts in April to offset some of the shut -in production. JV wells with Entrada and IPO were all solid performers in the last Q. 

 

 

they could reduce drilling to increase free cash any time now but I think the priority is a little more scale now. 

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