Rok Resources Inc. (TSE:ROK) has released an update.
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ROK Resources Inc. has adjusted its first-half 2024 capital budget upwards to $10.0 – $10.5 million in response to stable WTI pricing, aiming to start a six-well drilling program targeting Frobisher light oil in late Q2 2024. The increased investment is expected to boost net operating income in the second half of the year, with a projected average production of 4,000 boepd. The company has also reported a 40% increase in daily average production for 2023, with funds from operations surpassing forecasts.
For further insights into TSE:ROK stock, check out TipRanks’ Stock Analysis page.
