Saturn Oil & Gas announced it will acquire Corex Resources for $302 million, adding approximately 7,000 barrels per day of 100% light oil production in Manitoba, adjacent to its Southeast Saskatchewan operations. The acquisition is expected to increase Saturn's 2026 exit production to 54,000-56,000 boe/d and generate $192 million in net operating income over the next 12 months. Funded by cash and equity, the deal is accretive to key financial metrics without changing Saturn's target leverage ratio. The acquisition also expands Saturn's drilling inventory with over 323 identified locations and offers potential cost synergies and improved marketing opportunities. Closing is expected in December 2026, positioning Saturn for strong growth in 2027.
Saturn Oil & Gas Inc.'s acquisition news comes with this snapshot of the Energy sector on Pluang as of Oct 19, 2026 16:11 WIB: out of 79 priced US energy stocks, 25 rose and 43 fell. Uranium Energy Corp (UEC) traded at USD 8.05 with a 1-day change of +1.77%. Range Resources Corporation (RRC) was priced at USD 42.49, down 1.69% for the day.
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