Exploration & Production | Capital Markets | Capital Expenditure
Yangarra Announces Capital Budget for 2014
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Yangarra Resources has provided an operations update.
Production guidance for 2013 remains at 2,200 boe/d with cash flow forecast at $27 million.
Current production is approximately 3,000 boe/d with 2 gross (1.75 net) standing Cardium wells scheduled to be completed during December. The drilling rig is currently preparing to move to the next Cardium well (0.75 net) to commence drilling.
With the financing, 2013 year-end debt is revised to $36.0 million and debt to annualized fourth quarter debt is now forecasted to be 1.0 to 1.
With the addition of a Duvernay strata-graphic vertical test well, 2014 capital spending is now forecasted to be $50.0 million.
2014 production guidance remains at 3,200 boe/d with cash flow from operations estimated at $40 million. Year-end 2014 debt is now…
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