Yangarra Announces 2020 Year End Financials, Operating Results and Reserves
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Yangarra Resources
Yangarra or the
Company ) (TSX: YGR) announces its financials, operating results and reserves for the year ended December 31, 2020.
2020 was a volatile year with many challenges for the oil & gas industry in North America. Yangarra quickly responded to COVID-19 in early 2020 by reducing the capital program to zero until August 2020. Although this resulted in a decline in production, the Company worked to streamline operations and internalize third-party capital expenditures. As a result, Yangarra achieved lower drilling & completion costs which it expects to maintain as industry activity ramps up. In 2021, the Company has embarked on several ESG initiatives to address methane emissions, is working on creating a stronger management structure and plans to diversify the board of directors by adding two new members.
One of the key people who brought Medalta back to life has passed away.
Darcey Howells was the first person hired by Medalta in 1994, getting a role as site superintendent. Howells oversaw groups of workers who gave new life to the city’s Historic Clay District.
“Darcey was an amazing guy with a huge heart,” said Lorne Simpson, who worked with Darcey and sits on the Friends of Medalta board. “He was a guy who was full of common sense. He knew what needed to get done and started doing it.
“You’d hear about the roof needing work and Darcey would be on it making sure it got fixed.”