Cuda Oil and Gas Inc Announces First Quarter Financial and Operating Results
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Cuda Oil and Gas Inc Announces First Quarter Financial and Operating Results
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Cuda Oil and Gas Inc. Announces December 31, 2020 Year-End Financial and Operating Results
Cuda or the
Company ) announces its financial and operational results for the year ended December 31, 2020. Cuda s audited consolidated financial statements, and management s discussion and analysis for the year ended December 31, 2020 and 2019 are available under the Company s profile on the SEDAR website at www.sedar.com.
Significant 2020 Highlights
2020 proved to be another year of significant growth and change for the Company.
Production in Wyoming, United States, continues to respond positively to the miscible gas flood project. With the 15 new wells in operation in 2020, fourth quarter production increased 3% to 370 bbls/d, from 360 bbls/d in the third quarter of 2020, and increased 50% from 246 bbls/d, when compared to production from the fourth quarter of 2019. Offsetting the Wyoming, United States, production increases were lower WTI prices as a result of COVID-19. For the yea