CALGARY, Alberta, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) provides an operations update underscoring the continued momentum of its Chambers Belly River development program and the strategic value of its integrated oilfield services platform.
Over the past two years, Yangarra has drilled 17 Belly River wells in Chambers, and materially advanced its Chambers Belly River program through a disciplined capital program totaling $58 million for drilling, completions and related land acquisitions. By the end of Q3 2026, the Company expects the Chambers Belly River program to have generated $45 million of cash flow, demonstrating the strength of the play. Current Belly River production is 1,450 boe/d (72% liquids), and Yangarra has assembled 106 future Belly River drilling locations in Chambers. The Company is evaluating a new area that could significantly expand its Belly River inventory and further enhance the depth of its development portfolio.
Yangarra's Belly River development continues to benefit from optimized well design and field operations. A new design with a larger bottom hole pump delivered 2.5 times the productivity of the prior design on an IP90 basis in a direct offset comparison. Yangarra is advancing cost-effective initiatives to improve run-times and production.
During the third quarter, Yangarra completed farm-in commitments in South Chambers on several Cardium wells. These wells earn both Cardium and Belly River rights and are expected to be completed in the fourth quarter as natural gas prices strengthen into the winter season. The balance of Yangarra's drilling program will continue to prioritize Belly River development and further delineation into West Chambers, supporting the Company's focus on scalable, repeatable and capital-efficient growth opportunities.
As global oil prices strengthen and industry activity increases, Yangarra believes it is well positioned to benefit from the competitive advantage provided by its in-house oilfield services group ("OFS Group"). In an environment characterized by rising field service costs and tighter access to equipment and personnel, the OFS Group enhances Yangarra's cost control, execution certainty and operational flexibility. As industry investment accelerates, this integrated platform will mitigate inflationary pressures, preserve the Company's cost advantage and support efficient execution of its development plans.
Yangarra has updated its corporate presentation with additional information on the Company's strategy, operations and development outlook. The presentation is available on the Company's website at www.yangarra.ca.
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. Forward-looking information in this release includes information relating to, among other things, the Company's drilling and completion plans; the timing of wells being brought onstream; anticipated production levels, expected performance and payback; and the Company's future drilling, completion, development and capital expenditure plans.
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.ca).
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.
For further information, please contact James Evaskevich, CEO 403-262-9558.
This press release was published by a CLEAR® Verified individual.
