OilVoice  Jun 22  Comment 
Encana Corporation announced today that it has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy Ltd. TSX BIR for a total cash consideration of C625 m
OilVoice  Aug 15  Comment 
Birchcliff Energy Ltd. TSXBIR announce its strong financial and operational results for the second quarter of 2013 with record funds flow significant earnings a continued decrease in per unit ope
OilVoice  Jun 28  Comment 
Calmena Energy Services Inc. TSXCEZ and Birchcliff Energy Ltd. TSXBIR regret to report that late this morning a 32year old man employed by Calmena died of injuries suffered in a fall on a dri
OilVoice  Jun 14  Comment 
Birchcliff Energy Ltd. TSXBIR announce that it has closed its previously announced marketed offering by way of short form prospectus of two million Cumulative Redeemable Preferred Shares Series C
OilVoice  Nov 15  Comment 
Birchcliff Energy Ltd. TSXBIR is pleased to announce its financial and operating results for the third quarter of 2012. Current Update Current production is approximately 27500 boe per day w


Birchcliff Energy BIR on Toronto

Quarterly Results

Birchcliff Energy Reports BIR $ 13.17 up .85 ( 6.9%)

Our growth projections plus nat gas sector increase - on track - led to a home run when Birchcliff reported ( Wednesday May 14th, 2008 )


Record Average Production, Cash Flow, Cash Flow Per Share and Earnings Record Capital Expenditure program: drilled 17 gross (16.0 net) wells Two High Impact Natural Gas Discoveries in the Doig (90.1% W.I.) and Kiskatinaw (50% W.I.) formations Drilled 4 gross (3.6 net) Horizontal natural gas wells in the Montney/Doig formations Drilled two vertical Montney/Doig wells resulting in the significant increase in proven Montney/Doig lands to 37.5 net sections. Drilled 7 vertical wells and 2 horizontal wells on the Worsley light oil Property. Extended the Worsley light oil pool to the North on 100% working interest lands. Expanded and continued the water flood at the Worsley light oil pool Completed major pipelining and infrastructure expansion at the Worsley light oil pool notwithstanding severe weather problems Increased undeveloped land to 322,830 gross (275,340 net) undeveloped acres all in the Peace River Arch Completed $130 million equity issue resulting in extremely strong balance

Production Production at the beginning of May, immediately prior to shutting down the Worsley plant for a scheduled turnaround, was approximately 10,350 boe/day. Currently there are 10 gross (8.5 net) wells that are in various stages of completion and awaiting tie-in. Production for the first quarter of 2008 averaged 9,470 boe/day. This is a 62% increase from the 1st quarter of 2007 and a 2% increase from the 4th quarter of 2007. Production in the first quarter was impacted by unseasonably cold temperatures and the expected decline of flush production from wells tied-in during late 2007. Production per share was up 5% over the first quarter of 2007.

Cash Flow and Earnings Cash flow was $27.3 million or $0.28 per share for the first quarter 2008, as compared to $13.4 million or $0.21 per share in the first quarter of 2007. Birchcliff was required to recognize a realized loss from its oil price risk management contracts in the amount of $3.24 million in the first quarter which related to a volume of 2,000 boe/day of light oil. The volume under these oil price risk management contracts decreased on April 1, 2008 to 1,000 boe/ day for the remainder of the year. Birchcliff has no current intention of hedging commodity price on any further production. Notwithstanding the loss from the oil price risk management contracts, Birchcliff had earnings of $3.8 million or $0.04 per share for the first quarter of 2008 as compared to a loss of $1.4 million or $0.02 per share for the first quarter of 2007

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki