Bellatrix Exploration Ltd. Reports Record Year-to-Date Production, Funds Flow from Operations, Net Profit and Third Quarter 2014 Financial Results
Press Release
CALGARY, Nov. 4, 2014 – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) reports record year-to-date production, funds flow from operations, net profit and third quarter 2014 financial results.
Forward-Looking Statements
This press release, including the report to shareholders, contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the beginning of the Management’s Discussion and Analysis (the “MD&A”) attached to this press release.
HIGHLIGHTS
| Three months ended September 30, |
Nine months ended September 30, |
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| 2014 | 2013 | 2014 | 2013 | ||||
| SELECTED FINANCIAL RESULTS (unaudited) | |||||||
| (CDN$000s except share and per share amounts) | |||||||
| Revenue (before royalties and risk management (1)) | 137,411 | 68,329 | 453,307 | 208,436 | |||
| Funds flow from operations (2) | 60,341 | 30,002 | 208,996 | 104,110 | |||
| Per basic share (5) | $0.32 | $0.28 | $1.16 | $0.96 | |||
| Per diluted share (5) | $0.31 | $0.25 | $1.14 | $0.89 | |||
| Cash flow from operating activities | 60,006 | 25,295 | 204,369 | 90,433 | |||
| Per basic share (5) | $0.31 | $0.23 | $1.13 | $0.84 | |||
| Per diluted share (5) | $0.31 | $0.22 | $1.12 | $0.77 | |||
| Net profit | 44,874 | 29,453 | 108,293 | 49,480 | |||
| Per basic share (5) | $0.23 | $0.27 | $0.60 | $0.46 | |||
| Per diluted share (5) | $0.23 | $0.25 | $0.59 | $0.43 | |||
| Capital – exploration and development | 138,545 | 42,146 | 422,594 | 179,778 | |||
| Capital – corporate assets | 1,656 | 4,306 | 7,817 | 4,988 | |||
| Property acquisitions | 27,589 | 3,000 | 27,571 | 3,000 | |||
| Capital expenditures – cash | 167,790 | 49,452 | 457,982 | 187,766 | |||
| Property dispositions – cash | – | (54,242) | (8,374) | (54,242) | |||
| Total net capital expenditures – cash | 167,790 | (4,790) | 449,608 | 133,542 | |||
| Other non-cash items | 3,642 | 845 | 12,233 | 324 | |||
| Total capital expenditures – net (4) | 171,432 | (3,945) | 461,841 | 133,848 | |||
| Long-term debt | 402,655 | 139,295 | 402,655 | 139,295 | |||
| Convertible debentures (6) | – | 47,335 | – | 47,335 | |||
| Adjusted working capital deficiency (3) | 67,462 | 31,577 | 67,462 | 31,577 | |||
| Total net debt (3) | 470,117 | 218,207 | 470,117 | 218,207 | |||
| Total assets | 1,996,558 | 789,827 | 1,996,558 | 789,827 | |||
| Total shareholders’ equity | 1,190,258 | 439,570 | 1,190,258 | 439,570 | |||
http://www.bellatrixexploration.com/news/news-single?id=122667
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