BELLATRIX EXPLORATION (Toronto symbol BXE;www.bellatrixexploration.com) produces oil and natural gas in Alberta, B.C. and Saskatchewan. Gas makes up about 69% of its output; the remaining 31% is oil.
In the three months ended December 31, 2012, Bellatrix’s production rose 32.1%, to 18,763 barrels of oil equivalent per day (including natural gas) from 14,209 barrels. Cash flow per share rose 7.1%, to $0.30 from $0.28.
The company’s long-term debt is $183.7 million, or a low 29% of its market cap.
Pat has now released his #1 Aggressive Stock Pick for 2013. Alimentation Couche-Tard, our #1 Stock Pick for 2012 in Stock Pickers Digest gained over 75% from the time we made it our top pick early in 2012. You can get our full details and analysis on this year’s number one pick if you subscribe to Stock Pickers Digest now. And when you subscribe you immediately start getting updates and recommendations every week on fast-moving stocks in our Email/Telephone hotline.
Energy stocks: Company aims to boost production as high as 31,000 barrels a day by year’s end
Bellatrix has just announced a joint-venture agreement with an unnamed South Korea-based investment fund. This deal should speed up development of the company’s undeveloped Cardium shale oil deposits in west-central Alberta.
The company now expects its daily production to average 24,000 to 25,000 barrels of oil equivalent (including natural gas) per day this year. It could end 2013 with production as high as 30,000 to 31,000 barrels per day. To put that in perspective, Bellatrix likely ended 2012 with average production of 19,000 to 19,500 barrels a day.
Bellatrix’s shares trade at 5.2 times the company’s annual cash flow, based on the latest quarter.
In the latest edition of Stock Pickers Digest, we look at the extent of the financial commitment of the Korean investment fund to Bellatrix and the added risk of its ambitious drilling program in the Cardium deposits. We conclude with our clear buy-hold-sell advice on the stock.
COMMENTS PLEASE—Share your investment knowledge and opinions with fellow TSINetwork.ca members
Do you think the increase in Asian money coming into Canada’s energy industry is a boon that will speed up development, or do you think it mortgages too much of Canada’s resources to outside sources? Let us know what you think.
Comments
John
Keep it simple the world is the future of Canada.
The future will give us the potential to utilize our
large natural resources and the strong financial support with our high tech abilities. We are in great demand and we should move forward in all fields. It would not hurt to acquire more capitalism
and less socialism. We should ride the tide of todays
opportunities and not regress. Deveop all potentials and move forward politically and economically.
81 years old migrated from USA to Canada in 1970
When you hide and go into a shell you lose your
momentum and CANADA should not let this happen.
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Keep it simple the world is the future of Canada.
The future will give us the potential to utilize our
large natural resources and the strong financial support with our high tech abilities. We are in great demand and we should move forward in all fields. It would not hurt to acquire more capitalism
and less socialism. We should ride the tide of todays
opportunities and not regress. Deveop all potentials and move forward politically and economically.
81 years old migrated from USA to Canada in 1970
When you hide and go into a shell you lose your
momentum and CANADA should not let this happen.