Saturn Oil & Gas Inc. Announces Proposed Private Offering of US$625 million of Senior Secured Second Lien Notes Due 2029
Calgary, Alberta--(Newsfile Corp. - June 4, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF)("Saturn" or the "Company") today announced that, subject to market and other conditions, it intends to offer US$625 million in aggregate principal amount of senior secured second lien notes due 2029 (the "Notes") in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers...
2024-06-04 4:36 PM EDT
Saturn Oil & Gas Inc. Announces Voting Results of AGM
Calgary, Alberta--(Newsfile Corp. - May 28, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the voting results of its Annual General and Special Meeting of shareholders (the "Meeting") held on May 28, 2024. Saturn is pleased to report that that all matters presented at the Meeting were approved. A total of 102,320,139 common shares representing 63.34% of the total 161,544,643 outstanding common shares ("Common Shares") of...
2024-05-28 4:32 PM EDT
Saturn Oil & Gas Inc. Reports Q1 2024 Financial and Operating Results
Calgary, Alberta--(Newsfile Corp. - May 15, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to report its financial and operating results for the three months ended March 31, 2024. "The first quarter development plan returned some of the best results in Saturn's history," commented Justin Kaufmann, Saturn's Chief Development Officer. "These results were from conventional development in Southeast Saskatchewan and the Cardium in...
2024-05-15 6:07 PM EDT
Saturn Oil & Gas Inc. Announces Closing of $100 Million Bought Deal Offering
Calgary, Alberta--(Newsfile Corp. - May 15, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce that, further to the Company's May 6, 2024 press release, it has closed its previously announced bought deal offering of subscription receipts (the "Bought Deal Offering"). Pursuant to the Bought Deal Offering, the Company issued a total of 42,554,000 subscription receipts ("Subscription Receipts") at a price of $2.35 per...
2024-05-15 8:50 AM EDT
Saturn Oil & Gas Announces Filing of Prospectus Supplement
Calgary, Alberta--(Newsfile Corp. - May 8, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce that in connection with its previously announced bought-deal subscription receipt financing for aggregate gross proceeds of approximately $100 million (the "Offering"), the Company has filed a prospectus supplement (the "Prospectus Supplement") to its short form base shelf prospectus dated May 19, 2022, as amended pursuant to...
2024-05-08 7:25 PM EDT
Saturn Oil & Gas Inc. Announces its First Development of Cardium Wells at Brazeau and Continued Successful Development in Southeast Saskatchewan
Calgary, Alberta--(Newsfile Corp. - May 1, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the initial production results for its most recently drilled nine gross (9.0 net) wells, including the Company's first development of the Brazeau field in Central Alberta for Cardium light oil and natural gas. In addition, Saturn continued its successful development of conventional horizontal wells in Southeast Saskatchewan, with...
2024-05-01 8:30 AM EDT
Saturn Oil & Gas Inc. Announces Annual Incentive Award Grants
Calgary, Alberta--(Newsfile Corp. - April 2, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") today announced that it has granted its annual incentive award grants under the terms of its shareholder approved omnibus long term incentive plan ("LTIP"). The annual grant includes 2,653,518 Restricted Share Units ("RSUs") and 622,530 Performance Share Units ("PSUs") issued to directors, officers and employees of the Company. The awards may be settled...
2024-04-02 7:19 PM EDT
Saturn Oil & Gas Inc. Announces Sale of Non-Core Deer Mountain Property
Calgary, Alberta--(Newsfile Corp. - April 1, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the Company has entered into a definitive agreement with a private operator to sell its non-core Deer Mountain property in North Alberta (the "Deer Mountain Block") for cash of $27 million, less customary closing adjustments. The Deer Mountain Block had production of approximately 800 boe/d(1) (93% oil and NGLs) in March 2024,...
2024-04-01 6:42 PM EDT
Saturn Oil & Gas Inc. Reports 2023 Year-End Results Highlighted by Record Annual Production and Free Funds Flow
Calgary, Alberta--(Newsfile Corp. - March 12, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to report its financial and operating results for the three and twelve months ended December 31, 2023. "2023 was a tremendous year of progress for Saturn in creating a substantial and sustainable free cash generating enterprise. In addition to doubling our production base over last year, we have assembled a deep inventory of high-quality...
2024-03-12 7:43 PM EDT
Saturn Oil & Gas Inc. Announces Closing of $50 Million Bought Deal Private Placement Offering
Calgary, Alberta--(Newsfile Corp. - February 22, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce that, further to the Company's February 6, 2024 press release, it has closed its previously announced bought deal private placement offering (the "Offering"). Pursuant to the Offering, the Company issued a total of 22,223,000 common shares ("Common Shares") at a price of $2.25 per Common Share for aggregate gross proceeds of...
2024-02-22 4:05 PM EST
Saturn Oil & Gas Inc. Announces 145 Million BOE of Reserves and Proved Developed Producing Net Present Value 10% of $1.4 Billion
Calgary, Alberta--(Newsfile Corp. - January 30, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the results of the independent reserves evaluation of the Company's crude oil and natural gas assets, dated January 29, 2024 and effective December 31, 2023, in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and in accordance with the Canadian Oil and Gas Evaluation...
2024-01-30 5:20 PM EST
Saturn Oil & Gas Inc. Announces Initial Production Results of First OHML Bakken Well Above Expectations and Updated Debt Covenant
Calgary, Alberta--(Newsfile Corp. - January 4, 2024) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the Company's first Open Hole Mult-Lateral ("OHML") Bakken well drilled in the Viewfield area of Southeast Saskatchewan, 101/01-07-011-06W2 ("Viewfield 01-07"), had initial 30-day average production ("IP30") of approximately 233 bbls/d of light oil, which is 49%1 above the Company's expected IP30 type curves for OHML Bakken...
2024-01-04 7:07 PM EST
Saturn Oil & Gas Inc. Announces Employees' Share Purchase
Calgary, Alberta--(Newsfile Corp. - December 20, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") announces that pursuant to an agreement between certain purchasers, including Saturn's executives (the "Saturn Purchasers"), and a previous shareholder of Ridgeback Resources Inc. ("Ridgeback"), the Saturn Purchasers have purchased an aggregate of 891,898 common shares of Saturn (the "Subject Shares"). The Subject Shares were previously issued in...
2023-12-20 8:30 AM EST
Saturn Oil & Gas Inc. Announces its First Development of Cardium and Bakken Light Oil and the Highest Initial Production Rates on New Frobisher Wells to Date
Calgary, Alberta--(Newsfile Corp. - December 5, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce the initial production results for its most recently drilled 13 gross (11.4 net) wells, including Saturn's first development of Alberta Cardium and Saskatchewan Bakken light oil targets. Saturn has continued its success in the development of its deep inventory of locations in Southeast Saskatchewan including the best performing...
2023-12-05 5:59 PM EST
Saturn Oil & Gas Inc. Reports Q3 2023 Financial and Operational Results Highlighted by Record Quarterly Production and Adjusted EBITDA
Calgary, Alberta--(Newsfile Corp. - November 7, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to report its financial and operating results for the three and nine months ended September 30, 2023. "Saturn reached a new milestone in its goal of creating sustainable free cash flow by achieving record quarterly adjusted EBITDA of over $100 million(1) in the third quarter." commented John Jeffrey, Chief Executive Officer of Saturn....
2023-11-07 7:02 PM EST
Saturn Oil & Gas Inc. places No. 18 on The Globe and Mail's Fifth-Annual Ranking of Canada's Top Growing Companies
Calgary, Alberta--(Newsfile Corp. - October 4, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce it placed No. 18 on the 2023 Report on Business ranking of Canada's Top Growing Companies. Canada's Top Growing Companies ranks Canadian companies on three-year revenue growth. Saturn earned its spot with three-year growth of 1,929%. "We are very proud of the Saturn family of employees as we have grown from a group of seven a...
2023-10-04 8:00 AM EDT
Saturn Oil & Gas Inc. Provides Operations Update Highlighted by Spearfish Drilling Outperformance and Updated 2023 Guidance
Calgary, Alberta--(Newsfile Corp. - September 20, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") today announces an operations update highlighted by well performance that has exceeded expectations from the Company's recent Spearfish drilling at the Oxbow area, along with providing updated guidance for the balance of 2023 that reflects lower capital spending with better well performance. "Our Spearfish light oil drilling program has generated...
2023-09-20 10:38 AM EDT
Saturn Oil & Gas Inc. Reports Q2 2023 Financial and Operational Results Highlighted by Record Quarterly Production and Adjusted Funds Flow
Calgary, Alberta--(Newsfile Corp. - August 14, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to report its financial and operating results for the three and six months ended June 30, 2023. "The three months ended June 30, 2023 represent the first full quarter of positive contribution from the recently completed acquisition of Ridgeback which has driven record quarterly production and cash flow,(1)" commented John Jeffrey, Chief...
2023-08-14 6:10 PM EDT
Saturn Oil & Gas Inc. Announces Expiry of Warrants and Share Ownership Change
Calgary, Alberta--(Newsfile Corp. - July 19, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") announces that the majority of the Company's outstanding warrants expired between June 3, 2023 and July 7, 2023, and the Company's largest shareholder GMT Capital Corp. ("GMT"), and certain of GMT's affiliates, recently announced the acquisition of an additional 6,994,049 common shares ("Common Shares") of Saturn resulting in holdings as of June 30,...
2023-07-19 6:31 PM EDT
Saturn Oil & Gas Announces Board and Management Changes and Voting Results of AGM
Calgary, Alberta--(Newsfile Corp. - June 29, 2023) - Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) ("Saturn" or the "Company") is pleased to announce additions to Saturn's board of directors (the "Board") and management team, the voting results of its Annual General and Special Meeting of shareholders (the "Meeting") held on June 28, 2023, and the grant of equity-based compensation. Corporate Updates Board Additions Saturn is pleased to welcome two new directors to its board:...
2023-06-29 9:00 AM EDT