Saturn Oil & Gas Inc. announced its financial and operating results for the three month period ended March 31. Highlights: Production averaged 706 bbls/day, adjusted EBITDAX (before pro-forma adjustments) was $2.05 million, net income for the period ending March was $657,851.
Saturn Oil & Gas Inc. Reports 12 Months Results 2019
Saturn was successful in drilling and bringing on-line 17 extended reach horizontal Viking wells. Production averaged 766 bbls/day, with a peak production rate of over 1,450 bbls/day. The oil revenue increased from $4,5 million in 2018 to $18,3 million in 2019. Adjusted EBITDAX (before pro-forma adjustments) was $12.7 million, a $11.8 million increase from the same period in 2018. Net income for the year ending December 31, 2019 was $822,242, compared to net loss of $1.52 in the same period of 2018.
Saturn Oil & Gas Inc. Announced Q3 2019 Results Highlighted by EBITDAX of $9.6 Million
Generated revenue of $3.8 million in Q3 2019, $2.9 million or 318% higher than the same period in 2018, while year-to-date 2019 revenue of $13.8 million was $10.8 million, or 352%, higher than first nine months of 2018.