The following is a summary of the Saturn Oil & Gas Inc. (OILSF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Saturn Oil & Gas recorded record average production of over 39,000 boe/d and historic highs in adjusted EBITDA at $136 million and adjusted funds flow at $94 million.

• Adjusted funds flow normalized for one-off hedge costs exceeded consensus estimates, achieving $114 million, or $0.56 a share.

• The company managed favorable foreign exchange rate hedges on senior notes payments, reducing prospective interest costs.

Business Progress:

• Integrated the Saskatchewan acquisition successfully, achieving cost reductions and capital deployment efficiencies.

• Continued growth through tuck-in acquisitions such as the $20 million BrazeauCardium area acquisition, enhancing drilling inventory and production.

• Implemented a share buyback program as part of their return of capital framework, purchasing and canceling 1.9 million shares.

Opportunities:

• Focus on expanding drilling inventory and production in high-performing areas through strategic acquisitions.

• Plans to release the 2025 budget and guidance, focusing on continuing adjusted funds flow optimization.

Risks:

• Dependent on maintaining the pace of strategic acquisitions and managing production costs effectively.

• Continued adjustments to the hedge book based on oil price fluctuations, impacting future cash flows.

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