Canada's ROK Resources Adds Two Oil Wells to Drilling Program, Raising Full-Year Total to 12

en.Wedoany.com Reported - On October 14, Canadian oil and gas development company ROK Resources announced an expansion of its 2026 drilling program, planning to drill two additional oil and gas wells in the Southeast Saskatchewan area in the fourth quarter, bringing the full-year total to 12 wells and total net royalty wells to 10.9. The company had previously completed drilling operations on 10 wells, of which 9 were brought into production. The new wells are scheduled to come on stream before the end of 2026, with implementation timing subject to the availability of drilling rigs and oilfield service resources.

The 10 wells the company has completed drilling correspond to 8.9 net royalty wells, and the 9 wells brought into production correspond to 7.9 net royalty wells. The Southeast Saskatchewan area had previously been affected by adverse weather, delaying some drilling and completion operations, and the new wells came on stream later than originally scheduled. Over the most recent 30 days, the new production added under the 2026 drilling program averaged approximately 675 barrels of oil equivalent per day, of which crude oil and natural gas liquids accounted for 88%.

This drilling program adjustment follows ROK Resources' completion of two non-core asset sales. The two transactions together generated CAD 9.6 million in cash proceeds (after related adjustments) while reducing CAD 10.4 million in well abandonment and site restoration obligations, equivalent to a 16% decrease in the company's total related obligations. The company will increase development investment in core oil and gas assets in the fourth quarter and continue to execute its drilling program in the Southeast Saskatchewan area.

ROK Resources has updated its 2026 capital expenditure forecast to CAD 23.4 million, with full-year average daily production expected at 3,025 barrels of oil equivalent, of which liquid hydrocarbons account for 66%; full-year funds flow from operations is expected to be CAD 28.8 million, and year-end adjusted net surplus is expected to be CAD 6.4 million. The new wells are planned to be included in the above annual forecast, with related production expected to begin contributing by the end of the fourth quarter.