Deals - Acquisition, Mergers, Divestitures | Reserves
Yoho Averages 1,714 BOE/d in 2015; Talks Reserves Post-Sale
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Yoho Resources Inc. updates its reserves after its recent Duvernay divestment.
In December 2015, subsequent to its 2015 fiscal year end, Yoho closed a transaction to sell a portion of its Duvernay assets in the Kaybob area of Alberta for cash consideration of $50 million (prior to adjustments). Yoho has retained approximately 25% of its net Kaybob Duvernay acreage consisting of 5.5 sections at 100% working interest and the Company's recently completed Duvernay horizontal well at 16-12-59-19 W5.
Highlights: Yoho's production during fiscal 2015 averaged 1,714 boe per day (34% oil and natural gas liquids), compared to fiscal 2014 production of 1,712 boe per day (29% oil and NGL). Yoho generated funds from operations for fiscal 2015 of $4.6 million ($0.08 per share basic). Net exploration…- ✓ Full news archive — U.S., Canada & international coverage
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