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Rubellite Energy Corp RUBLF


Primary Symbol: T.RBY Alternate Symbol(s):  T.RBY.WT

Rubellite Energy Corp. is a Canada-based company. The Company’s wholly owned subsidiaries include Rubellite Energy Inc. (Rubellite), and Perpetual Energy Inc. (Perpetual). Rubellite is an energy company engaged in the exploration, development and production of heavy crude oil from the Clearwater and Mannville stack Formations in Eastern Alberta, utilizing multilateral drilling technology. Rubellite has a prolific, oil-focused asset base and is pursuing a robust growth plan. Rubellite operations include Ukalta, Figure Lake, Frog Lake, and Marten Hills. The Ukalta is located approximately 55 miles northeast of Edmonton. It has a 100% working interest at Figure Lake. Perpetual is an oil and natural gas exploration, production and marketing company. Perpetual owns a diversified asset portfolio, including liquids-rich conventional natural gas assets in the deep basin of West Central Alberta and undeveloped bitumen leases in Northern Alberta.


TSX:RBY - Post by User

Post by Justformeon Jan 07, 2024 5:18pm
439 Views
Post# 35814804

Decent Potential/Poor Execution

Decent Potential/Poor Execution Rubellite has been able to drill some decent wells recently but the poor execution and lack of experience at the field level is really hurting the results. This group is mostly made up of people from natural gas operations that are not familar with heavy oil production and the amout of money being spent on workovers, wells being shutin due to too many workovers due to inexperience is brutal. I guess if you hide all the high opex under capex you end up with the high drill/completion costs
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