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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.