ROK Resources Announces Debt Reduction and Reserves Update

ROK Resources Inc., a company based in Regina, reported a significant reduction in its adjusted net debt for 2024, amounting to $10.6 million, a 43% decrease from the previous year. The company's efforts in disciplined capital allocation and a focused drilling program in Southeast Saskatchewan have paid off, exceeding their internal type curve benchmarks.

In 2024, ROK deployed $17.4 million in capital expenditures, achieving an annual average production of 3,992 boepd. Their funds from operations totaled $31.6 million, outperforming forecasts by 6%. The company drilled 8 gross oil wells, achieving a 3% growth in production compared to 2023.

The company's reserves showed growth in all categories, bolstered by the successful light oil drilling program. Notably, there was a 4% increase in TP oil reserves and a 5% increase in TPP oil reserves.