Monday, August 18, 2014

Bellatrix Exploration Ltd. - BXE.t

Bellatrix Exploration Ltd. - BXE.t assets comprise a high-quality portfolio of properties concentrated in key areas of Alberta and Saskatchewan, with some British Columbian assets in the Peace River Arch region.

The company has a multi-year drilling inventory of locations in Alberta, Saskatchewan and British Columbia.

On August 6, 2014 the company released Numbers

Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE MKT: BXE) announces its financial and operating results for the three and six months ended June 30, 2014.

The Company continues to demonstrate accelerated growth posting record earnings, revenue, cash flow and production while continuing to drive down operating expenses. The wells drilled in the first half of 2014 are in line with our published type curves, facilitating the Company's ability to meet its published guidance of 2014 average daily production of +/-41,000 boe/d and an exit rate of approximately +/-48,000 boe/d, assuming no future unscheduled production constraints occur. Bellatrix's technical staff were habile in redirecting gas production from plant to plant thereby maximizing throughput in an active plant turnaround season.

Operational highlights for the three and six months ended June 30, 2014 include: Record sales of 36,342 boe/d (65% natural gas) up 64% from sales volumes of 22,102 boe/d registered in the second quarter of 2013.

Funds flow from operations for the six months ending June 30, 2014 was $148.7 million, doubling the same period in 2013 ($74.1 million) and furthermore, exceeds the funds flow for all of 2013 ($143.5 million).

Earnings for the second quarter 2014 of $38.3 million were 147% higher than the $15.5 million posted in Q2 2013.

On a year to date basis the Company has posted earnings of $63.4 million up 217% over the same period in 2013 ($20.0 million).