Brief: Saturn Oil & Gas Announces Fully-Funded 2024 Corporate Guidance

Saturn Oil & Gas

06/02/2024 14:59

Feb 6 (Reuters) - Saturn Oil & Gas Inc  SOIL.TO :
    * SATURN OIL & GAS INC. ANNOUNCES FULLY-FUNDED 2024
CORPORATE
GUIDANCE HIGHLIGHTED BY $180 MILLION OF DEBT REDUCTION WHILE
MAINTAINING PRODUCTION AND A $50 MILLION BOUGHT DEAL PRIVATE
PLACEMENT FINANCING LED BY STRATEGIC U.S. INSTITUTIONAL
INVESTORS
    * SATURN OIL & GAS INC - COMPANY WILL CONTINUE DEVELOPING
ITS
VIKING LIGHT OIL RESOURCE PLAY IN WEST CENTRAL SASKATCHEWAN IN
2024
    * SATURN OIL & GAS INC: 2024 AVERAGE PRODUCTION IS
FORECASTED
BETWEEN 26,500 TO 27,500 BOE/D
    * SATURN OIL & GAS INC - SEES  FULL YEAR ADJUSTED FUNDS FLOW
PER
SHARE $1.88 - $1.98
    * SATURN OIL & GAS INC: EXPECTS TO INVEST APPROXIMATELY 20%
OF
DRILLING CAPITAL EXPENDITURES TO VIKING DEVELOPMENT IN 2024
    * SATURN OIL & GAS INC - SEES  FY ADJUSTED EBITDA NET
DERIVATIVES
$356 MILLION - $372 MILLION
    * SATURN OIL & GAS INC: SEES  2024 FREE FUNDS FLOW $144
MILLION TO
$160 MILLION
    * SATURN OIL & GAS INC: SEES  2024 FREE FUNDS FLOW PER SHARE
$0.90
TO $1.00
    * SATURN OIL & GAS INC: SENIOR TERM LOAN SCHEDULE TO BE
REPAID IN
FULL IN Q1 2026 REMAINS UNCHANGED

Source text for Eikon:  ID:nCNWb3pgQa 
Further company coverage:  SOIL.TO 

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