BELLATRIX EXPLORATION $0.97 (Toronto symbol BXE; TSINetwork Rating: Speculative) (403-266-8670; www.bellatrixexploration.com; Shares outstanding: 237.5 million; Market cap: $244.1 million; No dividends paid) produces natural gas (72% of output) and oil (28%) in Alberta, B.C. and Saskatchewan.
In the three months ended December 31, 2016, Bellatrix’s cash flow per share fell sharply, to $0.03 from $0.15 a year earlier. The company produced 31,888 barrels of oil equivalent a day in the latest quarter. That was down 21.7% from 40,705 barrels. The decreases came mostly from lower daily output due to asset sales.
In all, the company raised $320.4 million in 2016 through asset sales. They include its Harmattan and Pembina properties along with a 35% stake in the Alder Flats gas plant.
Bellatrix used the proceeds to lower its debt to $381.3 million as of December 31, 2016. That’s down 43.3% from $672.8 million a year earlier. The company continues to sell assets to further pay down its debt.
For 2017, Bellatrix plans to spend…
Privacy Policy and Terms of Use
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What personal information do we collect?
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
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