Yangarra Resources Inc. was initially formed in 1985 as Ayrex Resources Ltd., which was created as a mining venture. Over the next 15 years, Ayrex was involved in mining and oil and gas ventures, with Tandem Resources and Stan Hawkins as the eventual controlling shareholder. In late 2000, Jim Evaskevich (President) and Gordon Bowerman (Director) bought the control block of Ayrex from Tandem and took over the operations of the company.
In mid-July 2003, the stock was consolidated on a 4:1 basis, and the name of the company was changed to Yangarra Resources Inc. Subsequently, the management team of Glacier Ridge Resources Ltd., which had been sold to HighPoint Resources in July 2003, assumed management of Yangarra Resources Inc.
Yangarra Resources Inc. merged with TriOil Ltd. on November 9, 2005 to form a new oil and gas exploration company named Yangarra Resources Ltd.
Yangarra Resources Ltd. acquired Athabaska Energy Ltd., a small private oil and gas exploration company, in December 2009.
In May 2010, Yangarra Resources Ltd. completed an amalgamation under the Business Corporations Act (Alberta) between Yangarra and its wholly-owned subsidiary, Athabaska Energy Ltd. under the name Yangarra Resources Ltd.