Current BXE:CA Stock Info

Bellatrix Exploration Breakout Notes

Brent A. Eshleman, president and CEO of Bellatrix Exploration Ltd., (ticker: BXE) presented today at EnerCom’s The Oil & Gas Conference® 22.

Bellatrix Exploration is a leader in liquids rich gas production in Canada, with its core operations located in West Central Alberta, in the Spirit River formation. The assets are 92,160 acres, situated largely in the Ferrier, Willesden Green, and Greater Pembina locations.

During Q2, Bellatrix grew its production by 9% over the previous quarter, to 37,916 BOEPD—exceeding its midpoint estimate of 34,500 BOEPD. The company lowered its debt by $52.8 million to $382.6 million, as of June 30. The company spent $11.2 million in capital and drilled two gross (1.2 net) wells in its Spirit River formation. It also increased its full-year guidance to 36,000 BOEPD. The company is planning on drilling another 13 net wells through the remainder of the year.

During the company’s breakout session, management was asked the following questions:

  • Do you have a gas hedge in 2019?
  • Is there a movement in Albert to replace the coal-fired electricity with gas?
  • In terms of your second phase plant expansion process in Q2 2018, what’s your expectation of processing cost?
  • You have done a very good job on reducing your bank line and outstandings, in terms of remaining component of debt, what’s your certain execution plan?
  • From the public data, it looks like your 2017 is well performing. Can you point to why and whether that’s repeatable in the future?
  • Does your current type cure warrant a type curve increase or was that effective high grading this year?

Bellatrix presented at EnerCom’s 2017 The Oil & Gas Conference®.

You can listen to the company’s presentation by clicking here.

You can view the company’s Q2 update by clicking here.

Legal Notice