Yangarra Resources gains after announcing 2023 guidance

Yangarra Resources

23/12/2022 15:59

** Shares of Canada-based oil and gas company Yangarra
Resources Ltd  YGR.TO  jump 6.9% to C$2.96
    ** YGR approves capital budget of C$125 mln for 2023
 urn:newsml:reuters.com:*:nCNW6R2LKa
    ** Budget includes drilling of 33 wells and the co expects
to complete 14 wells in the first quarter of 2023
    ** Budget is also expected to increase annual 2023 average
production to 13,000 barrels of oil equivalent per day - YGR
    ** Budget assumes an average price of $75 for West Texas
Intermediate, C$98.50/bbl for Edmonton par and an average price
of C$4.00 per gigajoules for Alberta Energy Company natural gas
    ** Capital expenditure budget for 2022 was C$105 mln, while
production guidance stood at 12,000 barrels of oil equivalent
per day 
    ** Accounting for session gains, YGR stock up 85% YTD
 (Reporting by Arshreet Singh in Bengaluru)
 ((Arshreet.Singh@thomsonreuters.com))