Bellatrix cuts Q2 production forecast, shares -2.6%


Bellatrix Exploration (BXE -2.6%) slides after cutting its forecast for Q2 production, citing unscheduled temporary downtime in Alberta.

BXE reduces its Q2 production guidance to ~38K boe/day and FY 2014 outlook to ~41K boe/day; cash flow forecasts for the quarter and year remain unchanged as higher commodity prices are expected to offset the restricted production.

Says its 2014 drilling program in the Cardium and Spirit River intervals has achieved a 100% success rate, with the wells productivity meeting internal type curves.

Comments (1)
  • Barkeater
    , contributor
    Comments (76) | Send Message
     
    Buying opportunity for very undervalued, high quality company. Dollar guidance for 2014 was based on conservative gas price projections. Hard to find a better E&P stock.
    16 May 2014, 04:02 PM Reply Like
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