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July 3, 2014
08:04 EDTBXEBellatrix Exploration announced Ferrier Area Gas Plants returns to full capacity
Bellatrix Exploration announced that the Ferrier Area Gas Plants, that had been shut in for scheduled and unscheduled plant turnarounds in the first half of 2014 resulting in significant production restrictions, have returned to full capacity as of June 30. Bellatrix's daily production is estimated to have averaged 36,600 boe/d in the second quarter due to these restrictions. With removal of these restrictions production is currently estimated to be 40,000 boe/d. In addition the company has 4,000 boe/d behind pipe that is expected to come on-stream in July. Based on the timing of proposed expenditures, normal production declines, and execution of the revised $500M 2014 capital budget the company reaffirms its unchanged 2014 average daily production guidance of approximately to +/- 41,000 boe/d and an exit rate guidance of approximately +/- 48,000 boe/d.
News For BXE From The Last 14 Days
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October 15, 2014
13:01 EDTBXEOrange Capital raises stake in Bellatrix Exploration to 11.3% from 10.2%
08:09 EDTBXEBellatrix Exploration sees Q4 production averaging approximately 45,000 boe/d
Bellatrix recently completed a tuck-in acquisition of working-interests in the Company's core Ferrier area in West Central Alberta, extending the Company's Cardium light oil resource play. The acquired assets included current low decline rate net production of approximately 300 boe/d. Bellatrix has entered into a farmin arrangement encompassing 12 gross sections of Mannville rights and 6 gross sections Cardium rights in the Ferrier area of West Central Alberta. Under the arrangement, Bellatrix has committed to drill a minimum of 6 wells into the Cardium interval and 6 wells into the Mannville interval. By drilling these wells, Bellatrix will earn the farmor's entire working interest in either the Cardium or Mannville for each section drilled, but reserving a 15% gross overriding royalty payable on Mannville wells and a 7.5% to 12% gross overriding royalty payable on Cardium wells to the farmee. As a result of an underground fire that occurred in downtown Calgary on October 11, 2014, the Company's corporate head office is temporarily without power and therefore closed. City officials currently estimate the outage will last until Thursday, October 16, 2014. As previously announced, two third-party operated gas processing facilities served Bellatrix with notice of their requirement to shut in for 3 days and 5 days, respectively, to facilitate necessary maintenance during the month of September. As a result, Bellatrix announced a reduction to third quarter production guidance on September 11, 2014. The first facility was shut in for 7 days, curtailing the Company's production by 2,000 boe/d gross during the shut in period while the second facility was offline for 19 days resulting in the additional loss of 16,800 boe/d gross during the shut in period. After giving effect to the aforementioned and continued tightness in available processing capacity, Bellatrix's daily production averaged approximately 38,000 boe/d in the third quarter of 2014. This represents a 5% increase over second quarter 2014 production volumes of 36,342 boe/d and a 74% increase over third quarter 2013 volumes of 21,852 boe/d. Currently fourth quarter production is estimated to average approximately 45,000 boe/d. The Company plans to employ 8 rigs throughout the fourth quarter of 2014.
08:09 EDTBXEBellatrix Exploration sees 2014 average daily production of 38,500 boe/d
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