Yangarra provides operations update and revises 2012 capital budget
- Yangarra Resources Ltd. provides an operations update and outline revisions to the 2012 capital budget.
The Company continues to advance its Central Alberta focused capital plan and drilled or participated in 6 gross (2.3 net) horizontal wells in the fourth quarter with two operated and one non-operated drilling rigs active.
Current production is approximately 1,700 boe/d with 6 gross (2.05 net) wells (including the two shut in wells) expected on-stream by March 1, 2012 and 2 gross (1.24 net) currently drilling. The Company is forecasting that first quarter production will average between 1,900 boe/d and 2,100 boe/d.
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