Bellatrix Exploration Ltd. Reports Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2017; Revises Production and Capital Expenditure Guidance for the Year 2017
For the six months, the company reported total revenue of CAD 140.349 million compared to CAD 103.443 million a year ago. Funds flow from operations was CAD 34.240 million or CAD 0.69 per basic and diluted share compared to CAD 21.924 million or CAD 0.57 per basic and diluted share a year ago. Cash flow from operating activities was CAD 18.754 million or CAD 0.21 per diluted share compared to CAD 18.008 million or CAD 0.20 per basic and diluted share a year ago. Net loss was CAD 56.186 million or CAD 1.14 per basic and diluted share compared to CAD 35.846 million or CAD 0.93 per basic and diluted share a year ago. Total capital expenditures net was CAD 20.452 million compared to CAD 10.258 million a year ago. Total net debt was CAD 382.561 million compared to CAD 638.025 million a year ago.
Production volumes in the second quarter of 2017 averaged 37,916 boe/d (76% natural gas weighted), ahead of the Company's previously set full year 2017 guidance. Production levels in the second quarter 2017 increased 9% relative to first quarter 2017 levels, reflecting strong results achieved from the first half 2017 capital program.
For the six months, the company reported production of total oil equivalent of 36,342 boe/d compared to 38,234 boe/d a year ago.
For the year 2017, the company now expects 2017 average daily production of 36,000 boe/d, 2017 exit production of 36,500 boe/d compared to previous guidance 2017 average daily production of 34,500 boe/d, 2017 exit production of 35,500 boe/d. The company expects total net capital expenditures of CAD 120 million.