Yangarra Resources Ltd. Announces Production Results for the Month and Year to Date Ended December 2017; Provides Production and Earnings Guidance for the Fourth Quarter of Fiscal Year 2017; Provides Production and Earnings Guidance for the Fiscal Year 2018
Production for 2017 averaged approximately 5,750 boe/d which is a 91% increase on a production per share basis when compared to 2016.
For the Fourth quarter 2017 production estimated at 6,700 boe/d.
For the fourth quarter, cash flow is expected to be $15 million resulting in year-end net debt of approximately $95 million.
The budget is expected to increase the Company's annual 2018 production to 9,000 10,000 boe/d with cash flow from operations estimated at $80 million to $90 million.
The Company expects year-end 2018 net debt of $95 million $105 million.