Aggressive levered acquirer that scaled from ~7 mboe/d to ~42 mboe/d in four years via Oxbow (2021) and Ridgeback (2023) deals, now prioritizing debt repayment ($110M in 2025) and buybacks over a dividend.
FY2025 delivered record Q4 production of 43.7 mboe/d, C$983.7M sales, C$549M adjusted EBITDA and ~50% free-funds-flow yield; 82% oil/NGL weighting with low-decline waterflood assets underpins reserves of 144 mmboe 1P (PV10 ~US$1.6bn).
Its EV/EBITDA of 3.2x is below the 5.9x median across the 142-company universe, the free-cash-flow yield of 22.0% is higher than the 6.5% median, and at $9.02/boe of proved reserves it is cheaper than the $13.51/boe median.
On a balanced screen across the universe, Saturn Oil & Gas scores 64/100, strongest on growth (74/100). Sub-scores: value 71, quality 65, growth 74, risk 52 (higher = riskier).
Saturn Oil & Gas holds approximately 0.14 billion boe of proved (1P) reserves with FY2025 production of about 42 thousand boe/d (82% liquids), a reserve life of roughly 9.5 years. Break-even: ~$45 (WTI FCF breakeven) — Low-decline waterflood base with ~$45/bbl WTI free-funds-flow breakeven; sub-$55 WTI still funds debt reduction plus buybacks.
For Saturn Oil & Gas, no SEC standardized measure is disclosed (non-US filer or listed NOC), so a public-source proved-NAV floor is not computable from US filings. See the interactive screener's NAV tab for peers where an SEC figure exists.
| Country / region | Prod. share | Country risk | Key jurisdiction risk |
|---|---|---|---|
| Canada | 100% | 8 | Stable; pipeline egress constraints, oil-sands emissions policy. |
Enerquill Advisory provides asset valuation, petroleum fiscal modelling and risk analysis for oil, gas and LNG transactions — including bespoke, deal-specific NAV and acquirer–target screens that go well beyond this public data.
Work with us →About Enerquill| Asset | Location | Type | Notes |
|---|---|---|---|
| Oxbow | Canada | Light oil waterflood | SE Saskatchewan core; low-decline, high-netback foundation asset |
| Ridgeback (SE Sask.) | Canada | Light oil | 2023 acquisition; largest production/reserve contributor |
| Viking | Canada | Light oil | West-central Saskatchewan halo development, short-cycle drilling |
| Battrum | Canada | Heavy oil | West-central Saskatchewan waterflood/polymer flood |
| Central Alberta | Canada | Light oil & liquids | Cardium/Mannville light-oil and liquids-rich runway |
| West-Central Sask. waterflood | Canada | EOR / waterflood | Enhanced-recovery inventory extending low-decline base |
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Production (mboe/d) | 7 | 12 | 24 | 38 | 42 |
| Proved reserves (bnboe) | 28.00 | 66.00 | 130.00 | 141.00 | 0.14 |
| Revenue ($bn) | 0.1 | 0.3 | 0.5 | 0.6 | 0.7 |
| EBITDA ($bn) | 0.0 | 0.2 | 0.3 | 0.3 | 0.4 |
| Net income ($bn) | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 |
| Free cash flow ($bn) | 0.0 | 0.1 | 0.1 | 0.1 | 0.2 |
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✓ FY2025 figures verified against primary sources:
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