Birchcliff Energy Inc., symbol BIR on Toronto, develops, produces and explores for natural gas and oil, mainly in the Peace River Arch area near the Alberta/B.C. border.
In the three months ended June 30, 2011, the natural gas stock’s production rose 40.2% in the three months ended June 30, 2011, to 17,324 barrels of oil equivalent per day (including natural gas) from 12,357 barrels a year earlier.
We analyze Birchcliff in Stock Pickers Digest, our newsletter that recommends stocks for the part of your portfolio you devote to aggressive investing.
The natural gas stock’s cash flow per share rose 50%, to a record $0.27 from $0.18. That’s mainly because of the production increase and higher oil prices.
Birchcliff is now expanding its 100%-owned natural gas plant at Pouce Coupe South, Alberta. These upgrades will double the plant’s production when they are completed in November 2012. That, plus further exploration and development, should increase the company’s production to roughly 27,500 barrels of oil equivalent per day by the end of 2012.
The natural gas stock’s debt of $339.1 million is just 22.6% of its $1.5 billion market cap, so it can easily afford to borrow more funds to pay for further exploration and expansion.
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