09:50 AM EST - Yangarra Resources Ltd. : Outlined 2023 guidance and provides a banking update. The Company's Board of Directors has approved a capital budget of $125 million for 2023, which includes the drilling of 33 wells which will keep one drilling rig fully utilized for the year. The budget is expected to increase the Company's annual 2023 average production to 13,000 boe/d with funds flow from operations of $180 million and 2023 year-end debt of $75 million. The 2023 budget assumes an average price of US$75.00 WTI, CDN$98.50/bbl for Edmonton par and an average price of CDN$4.00/GJ for AECO natural gas. Yangarra Resources Ltd.
shares T.YGR are trading up $0.08 at $2.85.
