Saturn Oil & Gas Inc. (TSX: SOIL) reports healthy growth in FY23 earnings as production jumps for the third consecutive year

Fri 05 Apr 24, 09:30 PM | Team Kalkine Media

Highlights

FY23 showcased impressive metrics for SOIL, including a 288.5% YoY increase in net earnings and a 159% surge in net revenue, backed by a robust net margin of 46.5%.
The share price of SOIL has surged by 26% and 16.03% over the last one week and one month, respectively.
SOIL achieved its third consecutive year of growth in production during FY23 with an uptick of 153% in average production per day.

Saturn Oil & Gas Inc. (TSX: SOIL) is a resource company based in Canada. The company’s focus is to develop the exploration of its oil and gas properties in west-central and Southeast Saskatchewan. Its business activities include acquisition, exploration, and development of petroleum and natural gas resource deposits in Canada.

In FY23, SOIL reported a net margin of 46.5% versus industry median of 18.3%. Further, 2023 marked the company’s third consecutive year of growth in production where it witnessed a 153% increment in average daily production.

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