Yangarra Resources Ltd. Announces Expanded 2026 Capital Program and Increased Credit Facility
CALGARY, Alberta, June 02, 2026 (GLOBE NEWSWIRE) — Yangarra Resources Ltd. (TSX:YGR) (“Yangarra” or the “Company”) today announced a meaningful expansion of its 2026 capital program and an increase to its syndicated credit facility, reflecting strong early performance from its redesigned Belly River development program and positioning the Company for enhanced oil weighting on production, stronger cash flow generation, and sustained value creation.
Operations Update
Yangarra continues to increase its strategic focus on the Belly River play and has added a second drilling rig to accelerate development activity, as a result the Company expects to bring on eight new wells, including six Belly River wells, by July.
The Company’s redesigned Belly River drilling and completion approach has delivered encouraging early results, with initial production rates exceeding previously disclosed type curves. While production history remains limited, this early outperformance has supported Yangarra’s decision to apply the revised design to five of its next six Belly River wells.
Capital Budget Update
Reflecting improved Belly River well performance, Yangarra is increasing its 2026 capital budget by 33% to $80 million, enabling the drilling of a total of 25 wells during the year with a continued emphasis on Belly River development. The increased capital program and greater weighting toward Belly River drilling are expected to enhance the oil weighting of the Company’s production mix and support stronger cash flow generation.
To date, Yangarra has drilled 11 wells and brought five wells on-stream. With the expanded capital program and the balance of the year ahead, the Company expects to bring a total of 20 wells on-stream over the remainder of 2026.
Credit Facility Update
Yangarra has completed its borrowing base review, resulting in an increase to its syndicated senior credit facility to $160 million with its existing syndicate of banks. The term-out date has been extended to May 31, 2027, and the maturity date to May 31, 2028. The expanded facility enhances liquidity and provides additional financial flexibility while supporting the disciplined execution of the Company’s development plans.
For further information, please contact Jim Evaskevich, CEO 403-262-9558.
Forward-Looking Information
This press release contains forward-looking statements and forward-looking information (collectively “forward-looking information”) within the meaning of applicable securities laws relating to the Company’s plans and other aspects of our anticipated future operations, management focus, strategies, financial, operating and production results and business opportunities. Forward-looking information typically uses words such as “anticipate”, “believe”, “continue”, “sustain”, “project”, “expect”, “forecast”, “budget”, “goal”, “guidance”, “plan”, “objective”, “strategy”, “target”, “intend” or similar words suggesting future outcomes, statements that actions, events or conditions “may”, “would”, “could” or “will” be taken or occur in the future, including, but not limited to, statements on potential completion techniques being considered. Statements relating to “reserves” are also deemed to be forward-looking statements, as they involve the implied assessment, based on certain estimates and assumptions, that the reserves described exist in the quantities predicted or estimated and that the reserves can be profitably produced in the future.
The forward-looking information is based on certain key expectations and assumptions made by our management, including expectations and assumptions concerning prevailing commodity prices, exchange rates, interest rates, applicable royalty rates and tax laws; future production rates and estimates of operating costs; performance of existing and future wells; reserve volumes; anticipated timing and results of capital expenditures; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; benefits to shareholders of our programs and initiatives, the timing, location and extent of future drilling operations; the state of the economy and the exploration and production business; results of operations; performance; business prospects and opportunities; the availability and cost of financing, labour and services; the impact of increasing competition; ability to efficiently integrate assets and employees acquired through acquisitions, ability to market oil and natural gas successfully and our ability to access capital.
Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because Yangarra can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on our future operations and such information may not be appropriate for other purposes.
Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect our operations or financial results are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedarplus.com).
These forward-looking statements are made as of the date of this press release and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
All reference to $ (funds) are in Canadian dollars.
Neither the TSX nor its Regulation Service Provider (as that term is defined in the Policies of the TSX) accepts responsibility for the adequacy and accuracy of this release.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. UKNewshour.com takes no editorial responsibility for the same.
