Exploration & Production | Quarterly / Earnings Reports | First Quarter (1Q) Update
Yangarra Increases 2014 Budget, 28 Wells Planned
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Yangarra Resources Ltd. has announced its financial and operating results for the three months ended March 31, 2014.
First Quarter Highlights Production was 2,796 boe/d (53% oil and NGL's), a 55% increase from the same period in 2013. Total capital expenditures were $22.0 million. As at March 31, 2014, the Company had current bank debt, subordinated debt and working capital deficit, excluding fair value of commodity contracts and non-cash flow-through share premium obligations, of $55.8 million compared to $44.6 million at December 31, 2013. The annualized first quarter debt to cash flow ratio was 1.3 : 1. Credit Facility UpdateYangarra has entered into an amended and restated credit facility agreement with Alberta Treasury Branches (ATB) which increased its total available credit…
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