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Argo 2023 Oil Production

Argo finished calendar 2023 with an ownership interest in 3 operating oil wells in the Lloydminster area of Alberta, Canada.

During 2023, Argo invested capital of CDN $1.8 million to participate in the development drilling of 3 new horizontal oil wells into the Sparky formation.

All 3 oil wells were successfully drilled, completed, equipped, and brought on production.

Argo’s total oil production for 2023 was 17,533 barrels oil generating 2023 oil revenue of $1.17 million (before royalty payments) and a net operating cash flow total of $0.78 million (before non-cash oil depreciation and accretion).

Argo 2023 Production

Full Year 2023Argo’s
Oil Production
Argo’s 2023
Oil Revenue
Argo’s 2023 net
operating cash flow
Lindbergh 1, Lindbergh 2, Lloyd 117,533 barrels$1.17 million$0.78 million
Argo 2023 Oil Production by Well
Argo 2023 Oil Production by Well
Argo 2023 Net Operating Cash Flow
Argo 2023 Net Operating Cash Flow

Argo Q1 2024 Oil Production

Q1 2024Argo’s
Oil Production
Argo’s Q1
Oil Revenue *
Argo’s Q1 Net
Operating Cash Flow**
Lindbergh 1, Lindbergh 2, Lloyd 110,072 barrels$669,473$396,787

-Before non-cash depreciation and accretion for oil and gas assets

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