Saturn Oil & Gas Inc. Announces Record Third Quarter 2026 Results with Production Exceeding Guidance and Analyst Expectations(8) for the Ninth Consecutive Quarter
Key Highlights
- ➤Production 43,704 boe/d beat guidance and analyst expectations for ninth consecutive quarter
- ➤Adjusted funds flow reached record $150 million, up 45% year over year
- ➤Corex acquisition adds approximately 7,000 bbl/d of light oil for $302 million
- ➤2026 exit production target increased to 54,000 to 56,000 boe/d
- ➤Record $128 million Q3 capital program drilled 60 gross wells
Expert Statements
John Jeffrey, Chief Executive Officer of Saturn Oil & Gas Inc.
“Saturn delivered record production and AFF(1) in the quarter while executing the largest capital program in our history. Building on approximately 10% forecast organic production growth in 2026, we continued to execute our blueprint strategy through accretive acquisitions that added approximately 3,700 boe/d(2) of light oil-weighted production and expanded our drilling inventory, while strengthening our capital structure through the refinancing of our senior notes. That momentum has carried into the fourth quarter with the Corex acquisition and an increased 2026 exit production target of 54,000 to 56,000 boe/d. We remain focused on disciplined growth, reducing debt and returning capital to shareholders.”
* Achieved record production of 43,704 boe/d((2)), beating Saturn's guidance and analyst expectations((8)) for the ninth consecutive quarter * Generated cash flow from operating activities of $156 million and record quarterly adjusted funds flow((1)) of $150 million ($0.84/share) * Executed Saturn's highest capital expenditure program in our history, deploying $128 million and drilling a total of 60 gross wells, of which 52 were drilled in Saskatchewan * Continued executing our blueprint strategy with 'core-up' acquisitions both during and after the quarter, building on our 10% forecast organic growth and driving an increased 2026 exit production target of 54,000 to 56,000 boe/d((2))
Calgary, Alberta--(Newsfile Corp. - November 4, 2026) - Saturn Oil & Gas Inc. (TSX: SOIL) (OTCQX: OILSF) ("Saturn" or the "Company"), a light oil-weighted producer focused on unlocking value through the development of assets in Saskatchewan, Manitoba and Alberta, is pleased to report our operating and financial results for the three and nine months ended September 30, 2026, featuring record quarterly production that exceeded both guidance and analyst expectations, along with record quarterly adjusted funds flow((1)) ("AFF") of $150 million ($0.84/share). We also executed our largest capital program to date, investing $128 million and increasing Q3/26 average production by 6% (15% per share), AFF((1)) by 45% (56% per share) and cash flow from operating activities by 24% to $156 million relative to the third quarter of 2025.
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