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Saturn Oil & Gas (SOIL) investor relations material
Saturn Oil & Gas Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 production averaged 40,417 BOE/d, exceeding guidance and analyst expectations, with operating costs below guidance.
Net debt reduced to $695M at June 30, down $119M from the prior quarter, beating forecasts.
Record free funds flow of $93M ($0.48/share) and adjusted funds flow of $109M ($0.56/share) achieved.
Shareholder value enhanced through NCIB and SIB programs, with over 11.2M shares repurchased since August 2024, returning $24M to shareholders.
Strategic focus on net debt reduction, opportunistic debt repurchases, and disciplined capital allocation, including share buybacks and a $5M tuck-in acquisition.
Financial highlights
Adjusted EBITDA reached $131.7M, up 24% year-over-year.
Net income for Q2/25 was $95.1M, more than double Q2/24.
Petroleum and natural gas sales were $236.7M, up from $208.9M in Q2/24.
Operating netback per BOE was $35.84, supported by lower OpEx ($18.28/BOE) and reduced royalties ($7.68/BOE).
Q2 CapEx was $16M, at the low end of guidance, reflecting limited activity during spring breakup.
Outlook and guidance
Q3 capital expenditures expected between $80M and $90M, with average volumes of 37,000–38,000 BOE/d.
Full-year CapEx tracking toward $290M–$295M, below original $305M guidance due to 3–5% cost savings.
Anticipates annual operating cost savings up to $20M from Saskatchewan's carbon tax elimination.
Flexibility to adjust capital allocation in response to commodity prices, with no drilling commitments or imminent land expiries.
OpEx expected to trend closer to $20/BOE guidance in H2 as activity increases.
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