Bellatrix Exploration Ltd. reported un-audited consolidated earnings and operating results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported total revenue of CAD 48.3 million compared to CAD 88.9 million, funds flow from operations of CAD 9.0 million or CAD 0.05 per diluted share compared to CAD 28.4 million or CAD 0.15 per diluted share, cash flow from operating activities of CAD 7.7 million or CAD 0.04 per diluted share compared to CAD 16.5 million or CAD 0.09 per diluted share, adjusted net loss of CAD 32.3 million or CAD 0.17 per diluted share compared to CAD 16.4 million or CAD 0.09 per diluted share, net loss of CAD 55.2 million or CAD 0.28 per diluted share compared to CAD 24.4 million or CAD 0.13 per diluted share, total capital expenditure – net of CAD 41.1 million compared to CAD 33.7 million for the last year.

For the six months, the company reported total revenue of CAD 103.4 million compared to CAD 179.1 million, funds flow from operations of CAD 21.9 million or CAD 0.11 per diluted share compared to CAD 53.2 million or CAD 0.28 per diluted share, cash flow from operating activities of CAD 18.0 million or CAD 0.09 per diluted share compared to CAD 39.0 million or CAD 0.20 per diluted share, adjusted net loss of CAD 48.3 million or CAD 0.25 per diluted share compared to CAD 30.4 million or CAD 0.16 per diluted share, net loss of CAD 35.8 million or CAD 0.19 per diluted share compared to CAD 37.1 million or CAD 0.19 per diluted share, total capital expenditure – net of CAD 10.3 million compared to CAD 124.4 million for the last year. Total net debt as on June 30, 2016 was CAD 638.0 million compared to CAD 715.6 million as on June 30, 2015.

Second quarter 2016 production averaged 38,000 boe/d (72% natural gas weighted).

First half average production volumes was 38,234 boe/d, exceeding first half 2016 guidance of 38,000 boe/d while under spending the first half capital budget by approximately 8%. 

The company provided production guidance for the second half and full year of 2016. For the second half, the company expected average daily production (boe/d) of 34,500.

For the year, the company expected average daily production (boe/d) of 36,250.