Yangarra Resources Ltd T.YGR

Q2 prices and reasons to cheer up on a rough day

[kavern23]

Look at the Q2 average prices OBE got that they put in a press release today:

Average sales price
Light oil ($/bbl)		139.88			76.97			129.49			72.37
Heavy oil ($/bbl)		106.18			48.58			95.88			44.46
NGL ($/bbl)		82.93			39.31			75.51			38.77
Natural gas ($/mcf)		7.38			3.21

Pretty nice prices YGR should have got.  I have modeled April and May production...we know ballpark range of Q2 prices.

Ygr Q2 will be stellar.

[Westboro1]

Fully agree....for YGR. OIL is inching back up. Even GAS.

[kavern23]

Even if YGR is drilling as hard as possible...the max YGR should be able to spenf in a Q is around 35m ish.  Expecting 29-39m Q2 capex.  Leaning to YGR falling on lower side and under 34m because they used alot of existing pads on new wells drileld in Q2. 32m capex would be ideal as should be 20m plus paid down on debt for Q2.

[Hungus]

Actually, it should be lower than that when you consider that they have already been going balls out drilling every day for over a year now and only spent $21.3 million on capex last quarter. Here are the relevant quotes from the q1 MD&A: "Capital expenditures were $21.3 million" "Operations Update The Company has kept one rig drilling since commodity prices rebounded

[Hungus]

They are even coming in under budget right now ($26.25 million per quarter has been allocated for capex). "Outlook Yangarra has a $105 million capital budget for 2022 which will keep one drilling rig fully utilized for the balance of the year."