Bellatrix Exploration Ltd. announced unaudited consolidated earnings and production results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenue of CAD 48,153,000 against CAD 56,524,000 a year ago. Funds flow from operations was CAD 8,300,000 or CAD 0.17 per basic and diluted share against CAD 10,556,000 or CAD 0.23 per basic and diluted share a year ago. Cash flow from operating activities was CAD 23,031,000, CAD 0.47 per basic and diluted share against CAD 2,425,000, CAD 0.05 per basic and diluted share a year ago. Net loss was CAD 22,124,000 or CAD 0.45 per basic and diluted share against CAD 13,907,000 or CAD 0.31 per basic and diluted share a year ago. Net debt was CAD 360,938,000 as on September 30, 2017 against CAD 461,115,000 as on September 30, 2016. The decrease in net profit period over period is due to an increase in the loss on property dispositions, partially offset by an increase in the realized gain on commodity contracts. Net loss before taxes was CAD 32,341,000 against CAD 17,830,000 a year ago. Net loss before finance and taxes was CAD 32,117,000 against CAD 4,596,000 a year ago. Expenditures on exploration and evaluation assets was CAD 435,000 against CAD 848,000 a year ago. Additions to property, plant and equipment were CAD 40,191,000 against CAD 16,393,000 a year ago.

For the nine months, the company reported revenue of CAD 188,502,000 against CAD 159,967,000 a year ago. Funds flow from operations was CAD 42,540,000 or CAD 0.86 per basic and diluted share against CAD 32,479,000 or CAD 0.80 per basic and diluted share a year ago. Cash flow from operating activities was CAD 41,785,000, CAD 0.85 per basic and diluted share against CAD 20,432,000 or CAD 0.50 per basic and diluted share a year ago. Net loss was CAD 78,310,000 against CAD 49,753,000 a year ago. Basic and diluted loss per share was CAD 1.59 against CAD 1.22 a year ago. Net loss before taxes was CAD 57,086,000 against CAD 72,318,000 a year ago. Net loss before finance and taxes was CAD 45,744,000 against CAD 50,817,000 a year ago. Expenditures on exploration and evaluation assets was CAD 1,628,000 against CAD 1,724,000 a year ago. Additions to property, plant and equipment were CAD 95,416,000 against CAD 52,356,000 a year ago.

For the quarter, the company reported crude oil, condensate and NGLs of 9,342 bbl per day against 9,652 bbl per day a year ago. Natural gas was 170,210 mcf per day against 148,539 mcf per day a year ago. Total oil equivalent was 37,710 boe per day against 34,409 boe per day a year ago.

For the nine months, the company reported crude oil, condensate and NGLs of 9,054 bbl per day against 10,251 bbl per day a year ago. Natural gas was 166,492 mcf per day against 160,189 mcf per day a year ago. Total oil equivalent was 36,803 boe per day against 36,949 boe per day a year ago.

For the full year of 2017, the company expects average daily production will be 36,000 boe/d compared previous guidance of 36,000 boe/d. Exit production will be 36,500 boe/d. Total net capital expenditures will be CAD 120,000,000. Given continued cost suppression activity and strong production volumes, company has reduced its full year 2017 production expenditure guidance target to CAD 8.50/boe from CAD 8.75/boe.