FANG - Yangarra Resources Is Revving Up The Engine
Sometimes results take a little digging to determine exactly what happened and why it happened. Yangarra Resources (OTCPK:YGRAF) reported a slight 2% reduction in production for the first quarter. But a third-party outage combined with some shut-in wells to accommodate the completion of other wells artificially held production back in the first quarter when compared to the fourth quarter.
Management actually accelerated the capital budget and was quite active in the first quarter. The acceleration was to take advantage of the lower service pricing while oil prices swooned. Those wells will come online