BIRCHCLIFF ENERGY $3.23 (Toronto symbol BIR; TSINetwork Rating: Speculative) (403-261-6401; www. birchcliffenergy.com; Shares outstanding: 263.0 million; Market cap: $829.3 million; Dividend yield: 3.1%) explores for, develops and produces oil and gas, mainly in the Peace River Arch area of both Alberta and B.C. About 80% of its output is gas. The remaining 20% is oil.
In July 2016, the company bought Encana Corp.’s Gordondale natural gas fields in B.C. for $612.3 million in cash. The deal was big for Birchcliff: Gordondale expanded its overall production by more than 50%.
In the three months ended December 31, 2017, Birchcliff’s cash flow per share jumped 33.3%, to $0.36 from $0.27 a year earlier. The increase came from higher oil prices and higher daily production.
Output rose to a record average of 80,103 barrels of oil per day in the latest quarter. That was up 31.9% from 60.750 barrels a year earlier.
Birchcliff likely spent about $262 million on exploration and development in 2017. That should increase…
Privacy Policy and Terms of Use
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The privacy of the site/store visitor is very important to TSI Network, and is respected at all times. The information we receive from customers helps us to personalize and continually improve your online experience at TSI Network.
We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
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