ROK Resources Announces New Leadership and Reports 2024 Financials

ROK Resources Inc. has appointed Bryden Wright as President and CEO, with Cameron Taylor remaining as Executive Chairman. This aligns with the firm's strategy for long-term shareholder value. Additionally, David French joins the board, offering substantial financial and strategic expertise from his extensive background in the Canadian oil and gas sector.

ROK reported a 43% reduction in adjusted net debt by year-end 2024, totaling $10.6 million. The company exceeded its operational targets, with funds from operations reaching $31.4 million, 5% above internal forecasts. Daily production averaged 3,992 boepd in 2024, achieving a 3% growth despite a 37% cut in capital expenditures.

Light oil drilling efforts increased total proved oil reserves by 4% and a 5% rise in total proved plus probable reserves. Financially, ROK navigated challenges with a slight net income improvement.