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June 3rd, 2020 | 10:02 CEST

BP, Saturn Oil & Gas, Shell - Revenue and profit increase significantly

  • Oil
Photo credits: pixabay.com

The oil price continues to gain momentum and is still trading around 40% below the January 2020 level, and now the right stocks are in the spotlight. In addition to the well-known major oil producers such as BP and Shell, there are also successful producers who are not yet so well known, but who certainly have potential. Last night the young Canadian oil producer Saturn Oil & Gas published the results of the past fiscal year. Due to the Corona Pandemic, the company had postponed the release, which is currently nothing special and is officially made possible by an extended deadline.

time to read: 1 minutes | Author: Mario Hose
ISIN: CA80412L1076 , GB0007980591 , GB00B03MLX29

Table of contents:


    John Jeffrey, CEO, Saturn Oil + Gas Inc.
    "[...] The Oxbow Asset now delivers a substantial free cash flow stream to internally fund our impactful drilling and workover programs. [...]" John Jeffrey, CEO, Saturn Oil + Gas Inc.

    Full interview

     

    First annual profit in company history

    According to its financial statements, Saturn Oil & Gas increased its oil sales from CAD 4.5 million in 2018 to CAD 18.3 million in 2019, a increase of over 300%. For the first time in the company's history, an annual profit was reported. The Adjusted EBITDAX even reached a level of CAD 12.7 million. Saturn Oil & Gas earned more than CAD 820,000, compared to a loss of CAD 1.5 million in the previous year. The company is obviously on the road to success.

    Reduction of production costs

    Last year, Saturn Oil & Gas increased its average daily production from 233 barrels in 2018 to 766. On average, the company achieved a sales price of CAD 65.47 per barrel in 2019 compared to CAD 48.52 in the same period last year. In addition, the company achieved an operating netback of CAD 51.84 per barrel. In the previous year, this figure was CAD 30.22 per barrel, partly due to the low oil price.

    Reserves were expanded

    In 2019, Saturn Oil & Gas drilled 17 successful horizontal wells in the Viking Formation. The costs for the drilling and completion were CAD 17.53 million or an average of CAD 1.03 million per well. Despite the production of crude oil, the total proven and probable reserves (NPV-10) increased from CAD 91.37 million to CAD 111.65 million, representing a value of CAD 0.47 per share. In the stock market, the share price has already recovered to the level of the pre-Covid-19 period and yesterday closed at CAD 0.135 and a market value of CAD 31.67 million. In October 2018 the share was already trading at CAD 0.30.

    Good oil from Canada

    In addition to the positive economic development, the management of Saturn Oil & Gas is also addressing environmental protection issues and placing ESG at the forefront of its activities. Investors who believe that oil will continue to be needed in the coming years for a secure life in a modern society and at the same time want to position themselves in Canada, a country that respects human rights and environmental protection, should take a closer look at the Saturn Oil & Gas share.


    Conflict of interest

    Pursuant to §85 of the German Securities Trading Act (WpHG), we point out that Apaton Finance GmbH as well as partners, authors or employees of Apaton Finance GmbH (hereinafter referred to as "Relevant Persons") may in the future hold shares or other financial instruments of the mentioned companies or will bet on rising or falling on rising or falling prices and therefore a conflict of interest may arise in the future. conflict of interest may arise in the future. The Relevant Persons reserve the shares or other financial instruments of the company at any time (hereinafter referred to as the company at any time (hereinafter referred to as a "Transaction"). "Transaction"). Transactions may under certain circumstances influence the respective price of the shares or other financial instruments of the of the Company.

    Furthermore, Apaton Finance GmbH reserves the right to enter into future relationships with the company or with third parties in relation to reports on the company. with regard to reports on the company, which are published within the scope of the Apaton Finance GmbH as well as in the social media, on partner sites or in e-mails, on partner sites or in e-mails. The above references to existing conflicts of interest apply apply to all types and forms of publication used by Apaton Finance GmbH uses for publications on companies.

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    Der Autor

    Mario Hose

    Born and raised in Hannover, Lower Saxony follows social and economic developments around the globe. As a passionate entrepreneur and columnist he explains and compares the most diverse business models as well as markets for interested stock traders.

    About the author



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