Canada's Saturn Oil & Gas Q1 production rises

Saturn Oil & Gas

06/05/2026 22:11

Overview

Canada light oil producer's Q1 production rose 3%

Company repurchased C$12.1 mln in shares under its buyback program during the quarter

Outlook

Saturn Oil & Gas expects Q2/26 capital expenditures between C$35 mln and C$40 mln

Company sees Q2/26 production averaging 40,000 to 41,000 boe/d

Saturn plans to accelerate C$20 mln of capital into Q2/26 if oil prices remain elevated

Result Drivers

HIGHER OIL PRICES - Realized oil price rose to nearly C$115/bbl in March, up from an average of C$75/bbl in January and February, boosting cash flow, per CEO John Jeffrey

WELL PERFORMANCE - New wells, particularly in southeast Saskatchewan, outperformed internal type curve estimates and were brought on stream sooner than expected

ACTIVE DRILLING PROGRAM - Q1 capital expenditures of C$44.8 mln funded drilling of 23 gross (18.7 net) wells, mainly in southeast Saskatchewan

Company press release: ID:nNFC8NRMw

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Petroleum and Natural Gas Sales
C$270.24 mln
Q1 Net Income
-C$97.32 mln
Q1 Adjusted EBITDA
C$126.53 mln
Q1 Capex
C$44.75 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

Wall Street's median 12-month price target for Saturn Oil & Gas Inc is C$6.65, about 3.8% below its May 5 closing price of C$6.91

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 22 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)