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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Birchcliff Energy Ltd.    BIR   CA0906971035

BIRCHCLIFF ENERGY LTD.

(BIR)
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Birchcliff Energy : reports wider second-quarter loss on lower oil, liquids prices

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08/12/2020 | 05:19pm EDT

CALGARY — Natural gas producer Birchcliff Energy Ltd. is reporting a $39.5-million second-quarter loss compared with a loss of $9.5 million in the year-earlier period.

The Calgary-based company says its loss in the three months ended June 30 amounts to 15 cents per share versus a loss of four cents a share a year ago and analyst expectations of a 14-cent loss, according to financial data firm Refinitiv.

The company says average production fell to 74,950 barrels of oil equivalent per day (76 per cent natural gas) in the second quarter from 78,450 boe/d in the same period of 2019 due to voluntary curtailments and plant maintenance work.

Birchcliff's realized price for light oil and condensate fell sharply in the quarter (down 64 and 57 per cent, respectively) compared with the year-earlier period, but natural gas and natural gas liquids prices were slightly higher.

It says it expects gas prices to continue to strengthen in the second half of 2020 and into 2021 as it increases prALSoduction by bringing on wells drilled earlier this year.

The company says it expects to average between 78,000 and 80,000 boe/d of production this year.

This report by The Canadian Press was first published Aug. 12, 2020.

Companies in this story: (TSX:BIR)

© 2020 The Canadian Press. All rights reserved., source Canadian Press DataFile


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Financials
Sales 2020 501 M 380 M 380 M
Net income 2020 - - -
Net Debt 2020 788 M 597 M 597 M
P/E ratio 2020 -7,10x
Yield 2020 3,12%
Capitalization 543 M 412 M 411 M
EV / Sales 2020 2,66x
EV / Sales 2021 2,05x
Nbr of Employees 205
Free-Float 98,1%
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Technical analysis trends BIRCHCLIFF ENERGY LTD.
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TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 2,59 CAD
Last Close Price 2,04 CAD
Spread / Highest target 71,6%
Spread / Average Target 26,9%
Spread / Lowest Target -26,5%
EPS Revisions
Managers
NameTitle
A. Jeffery Tonken Chairman, President & Chief Executive Officer
Myles R. Bosman Chief Operating Officer & Executive VP-Exploration
Bruno P. Geremia Chief Financial Officer & Vice President
Paul Messer Manager-Information Technology
James W. Surbey Non-Independent Director
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