Thursday, September 4, 2014

Yangarra Resources Ltd. - YGR.t

Yangarra Resources Ltd. - YGR.t is a junior oil and gas company engaged in the exploration, development and production of natural gas and oil with operations in Western Canada, with a main focus on Central Alberta, where the Company has extensive infrastructure and land holdings.

On August 13, 2014 the company released Numbers

"Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the three and six months ended June 30, 2014.
Second Quarter Highlights

Production for the quarter was 2,606 boe/d (51% oil and NGL’s), a 32% increase from the same period in 2013. The production was negatively impacted by turn-around season at various third party facilities in Central Alberta. A total of 60,000 boe (650 boe/d for the quarter) of production, representing almost $3 million of cash flow, was shut in while the various facilities were under repair.
• Oil and gas sales including royalty income were $14.1 million with funds flow from operations of $8.2 million ($0.15 per share - basic). This was an 82% and 26% increase from the same period in 2013, respectively with the spread in funds flow from operations between the two periods primarily a result of the monthly settlement of commodity contracts.
• Earnings before interest, taxes, depletion & depreciation, amortization and changes in the fair value of commodity contracts (“EBITDA”) was $8.6 million, compared with $6.8 million in the same period of 2013.
• Operating costs were $6.92 per boe and transportation costs were $1.88 per boe, an increase of 7% and 46%, respectively, from the same period in 2013.
• Operating netback of $38.23 per boe, a 5% decrease from the $40.30 per boe reported in the same period of 2013. Field net backs (operating netback excluding commodity contracts) were $47.04 an increase of 31% from the same period in 2013.
• G&A costs of $1.36 per boe, which is a 31% decrease from the second quarter of 2013.
• Royalties were 7% of oil and gas revenue (6% when the commodity contracts are excluded).
• Total capital expenditures were $19.4 million.
o The Company successfully drilled or participated in 9 gross (4.8 net) wells during the second quarter of 2014 and the Company expects to drill a total of 6 gross (5.5 net) wells in the third quarter.
• As at June 30, 2014, the Company had current bank debt and working capital deficit, excluding fair value of commodity contracts and non-cash flow-through share premium obligations, of $41.0 million compared to $44.6 million at December 31, 2013.
o The annualized second quarter debt to cash flow ratio was 1.3 : 1.
• Graduated from the TSX Venture Exchange to the Toronto Stock Exchange on June 27, 2014.
• Completed a 3 to 1 Share Consolidation on May 30, 2014. "