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Last C$0.16 CAD
Change Today 0.00 / 0.00%
Volume 0.0
As of 3:58 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

spyglass resources corp (SGL) Snapshot

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52 Week High
08/5/14 - C$1.71
52 Week Low
07/27/15 - C$0.14
Market Cap
Average Volume 10 Days
Shares Outstanding
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spyglass resources corp (SGL) Details

Spyglass Resources Corp., an intermediate oil and gas company, operates oil and natural gas properties in the Western Canadian Sedimentary Basin. The company’s principal properties are located in Dixonville, Enchant, Retlaw, Matziwin, and Halkirk-Provost in Alberta; and Noel, British Columbia. As of December 31, 2014, it had proved plus probable reserves of 54,129 Mboe. The company was formerly known as Pace Oil & Gas Ltd. and changed its name to Spyglass Resources Corp. in March 2013, as result of its amalgamation with Charger Energy Corp. and AvenEx Energy Corp. Spyglass Resources Corp. is headquartered in Calgary, Canada.

195 Employees
Last Reported Date: 03/11/15

spyglass resources corp (SGL) Top Compensated Officers

Chief Executive Officer, President and Non-In...
Total Annual Compensation: C$317.5K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: C$275.0K
Executive Vice President of Corporate Develop...
Total Annual Compensation: C$260.0K
Vice President of Engineering
Total Annual Compensation: C$225.0K
Vice President of Production and Operations
Total Annual Compensation: C$211.5K
Compensation as of Fiscal Year 2014.

spyglass resources corp (SGL) Key Developments

Spyglass Resources Corp. Announces Completion of Credit Facility Review

Spyglass Resources Corp. announced that following the company's semi-annual review by its lenders, the total credit facility, as amended, remains at $200 million. The credit facilities now consist of a $100 million syndicated borrowing base facility and a $100 million syndicated reducing term facility. The syndicated borrowing base facility is reviewed semi-annually and both facilities currently have a May 29, 2016 maturity date. The reducing term facility is expected to be paid through recapitalization and asset divestiture opportunities and required to be reduced to $25 million by January 31, 2016. The company expects its interest rate in 2015 to average approximately 7.25%.

Spyglass Resources Corp. Announces Extension of Credit Facility Review

Spyglass Resources Corp. announced the Company and its lenders have agreed to further extend its annual credit facility review and borrowing base determination from May 29, 2015 to June 30, 2015. The Company's existing credit facility has therefore been extended until June 30, 2015 consistent with this revised renewal schedule. Spyglass will issue a press release once the review has concluded.

Spyglass Resources Corp. Announces Unaudited Consolidated Earnings and Production Results for the First Quarter Ended March 31, 2015; Provides Production Guidance for the Year 2015

Spyglass Resources Corp. announced unaudited consolidated earnings and production results for the first quarter ended March 31, 2015. For the quarter, capital expenditures were $5.576 million against $17.847 million a year ago. Funds flow from operations was $4.838 million or $0.04 per share against $16.026 million or $0.13 per share a year ago. Net loss was $79,963,000 or $0.63 per share against $11,697,000 or $0.09 per share a year ago. Net debt was $195,677,000 against $307,150,000 a year ago. The increase in net loss is primarily due to non-cash deferred tax expenses recognized in the first quarter of 2015 as a result of the write down of deferred tax assets. Production for the first quarter of 2015 exceeded expectations averaging 11,058 boe/d, a decrease from 14,560 boe/d in the first quarter of 2014, partially offset by the light oil and natural gas drilling and optimization program completed in 2014. The company anticipates that the 2015 capital program coupled with the company's relatively low 21% decline rate is expected to result in average production of approximately 9,000 boe/d for the year.


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