# Saturn Oil & Gas Sets Q3 Production Record, Posts C$48 Million Loss By John Kim Canonical URL: https://www.tokenpost.com/news/business/50507 Published: 2026-11-07T02:15:07.000Z Updated: 2026-11-07T02:15:07.000Z Section: Business > Oil and liquids accounted for 82% of output. Saturn also reaffirmed a 54,000–56,000 boe/d exit target for 2026, contingent on the Corex deal closing. Saturn Oil & Gas Inc. set a third-quarter production record of 43,704 barrels of oil equivalent per day, while a C$48 million loss reflected noncash hedge losses and refinancing costs. Oil and liquids made up 82% of output. The company’s net loss was C$0.27 per share and primarily reflected unrealized hedge losses and one-time costs associated with refinancing senior notes. Saturn reaffirmed an exit production target of 54,000 to 56,000 boe/d for year-end 2026. The target depends on closing the planned [Corex Resources acquisition](), which Saturn expected to close before Christmas 2026. The C$302 million cash-and-shares deal is expected to add about 7,000 barrels per day of light and medium crude production in Manitoba. ## Links in this article - [Corex Resources acquisition](https://www.tokenpost.com/news/business/34957)