on ROK Resources Inc. (isin : CA71646V4091)
ROK Resources Provides Second-Half 2024 Guidance
Located in Regina, SK, ROK Resources Inc. (TSXV:ROK)(OTCQB:ROKRF) has announced its strategic direction for the second half of 2024. The company is committed to enhancing shareholder value through the development of conventional light oil prospects in Southeast Saskatchewan.
ROK Resources projects capital expenditures of $24 million for 2024, with an average daily production goal between 4,100 boepd and 4,200 boepd. This includes the drilling of 13 gross wells in Southeast Saskatchewan and 2 to 3 multi-lateral Midale wells. The company anticipates ending the year with an adjusted net debt of $19 to $20 million.
Despite softening natural gas markets, the company maintains a stable balance sheet, bolstered by strong natural gas hedging. Plans are in place to reactivate 280 boepd of shut-in production in Kaybob, Alberta, by Q4 2024.
Looking forward, ROK Resources focuses on strategic growth in core areas and operational efficiencies through cost reduction measures.
R. P.
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