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With its third-quarter results, the Canadian oil and gas producer Yangarra Resources (OTCPK:YGRAF) announced its 2020 capital program. Despite mixed results during this quarter, the valuation of the company based on its next-year plan remains attractive.
(Note: All the numbers in the article are in Canadian dollars unless otherwise noted.)
Mixed third-quarter results
Last quarter, Yangarra had announced the goal of drilling five to six wells and complete four to five wells during its third quarter. But the results fell short of expectations since the company drilled only three wells and completed five.