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Yangarra Resources Reports Production Forecast Slightly Down
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Yangarra Resources Ltd. has announced its financial and operating results for the three and nine months ended September 30, 2013 and provides 2014 guidance.
Highlights: Production averaged 2,238 boe/d (46% oil and NGL's). Capital expenditures of $8.6 million focused on drilling and infrastructure in Central Alberta. As at September 30, 2013, the Company was in a net debt position of $43 million compared to $34 million at December 31, 2012. The debt to annualized third quarter cash flow ratio was 1.7 to 1.0. Closed a 47 section Cardium Farm-In Agreement in the Willesden Green Area with an industry major. Completed a subordinated term loan facility of up to $20 million with Alberta Treasury Branches. Operations UpdateThe Company drilled and completed 10 gross (5.5 net) wells during the…
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