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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 (45) | 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, 04:02 PM Reply Like
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