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Birchcliff Energy Ltd (BIR.TO)

BIR.TO on Toronto Stock Exchange

1.18CAD
7 Jul 2020
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Latest Key Developments (Source: Significant Developments)

Birchcliff Energy Says Adjusted Funds Flow For Q1 Was $36.9 Million
Thursday, 14 May 2020 

May 13 (Reuters) - Birchcliff Energy Ltd ::BIRCHCLIFF ENERGY LTD. ANNOUNCES SOLID Q1 2020 RESULTS AND CONFIRMATION OF BORROWING BASE AT $1 BILLION.BIRCHCLIFF ENERGY LTD - QUARTERLY AVERAGE PRODUCTION OF 73,580 BOE/D IN Q1 2020, A 2% DECREASE FROM Q1 2019.BIRCHCLIFF ENERGY - PERFORMED IMPAIRMENT TEST ON PETROLEUM AND NATURAL GAS PROPERTIES AND EQUIPMENT AT MARCH 31, SUCH ASSETS WERE NOT IMPAIRED.BIRCHCLIFF ENERGY LTD - INTENDS TO REDUCE AMOUNT OF ITS QUARTERLY COMMON SHARE DIVIDEND FROM $0.02625 PER SHARE TO $0.005 PER SHARE.BIRCHCLIFF ENERGY LTD - OVER COURSE OF 2020, PRODUCTION IS EXPECTED TO INCREASE WITH A CORRESPONDING REDUCTION IN PER UNIT OPERATING COSTS.BIRCHCLIFF ENERGY - EXPECTS ITS HIGHER PRODUCTION IN THIRD AND FOURTH QUARTERS WILL DRIVE HIGHER ADJUSTED FUNDS FLOW AND LOWER PER UNIT COSTS.BIRCHCLIFF ENERGY LTD - EXPECTS TO EXIT 2020 IN A STRONG POSITION AS A RESULT OF ITS HIGHER PRODUCTION AND LOWER COSTS.BIRCHCLIFF ENERGY LTD - SEES ANNUAL AVERAGE PRODUCTION 78,000 BOE/D - 80,000 BOE/D.BIRCHCLIFF ENERGY LTD - ADJUSTED FUNDS FLOW FOR Q1 2020 WAS $36.9 MILLION, OR $0.14 PER BASIC COMMON SHARE.  Full Article

Birchcliff Energy Reduces Capital Spending And Revised 2020 Guidance
Thursday, 12 Mar 2020 

March 11 (Reuters) - Birchcliff Energy Ltd ::BIRCHCLIFF ENERGY LTD - REDUCED CAPITAL SPENDING AND REVISED 2020 GUIDANCE.BIRCHCLIFF ENERGY - IMMEDIATELY DEFERRING ABOUT $65 MILLION OF CAPITAL EXPENDITURES AS RESULT OF WEAKENING AND VOLATILE OIL PRICES.BIRCHCLIFF ENERGY - FOCUSED ON MAINTAINING ITS STRONG BALANCE SHEET AND FINANCIAL FLEXIBILITY.BIRCHCLIFF ENERGY - BRINGING ANTICIPATED 2020 CAPITAL EXPENDITURES MORE IN-LINE WITH ITS TARGETED ANNUAL ADJUSTED FUNDS FLOW.BIRCHCLIFF ENERGY - AS AT DEC 31, 2019, CO HAD DRAWN $611.5 MILLION OF ITS $1.0 BILLION CREDIT FACILITIES.BIRCHCLIFF ENERGY - APPROVED A REDUCED CAPITAL BUDGET OF $275 MILLION TO $295 MILLION FOR 2020.BIRCHCLIFF ENERGY - REVISED CAPITAL PROGRAM FOR 2020 CONTEMPLATES DRILLING OF A TOTAL OF 28 (28.0 NET) WELLS.BIRCHCLIFF ENERGY - ANNUAL AVERAGE PRODUCTION IN 2020 IS NOW EXPECTED TO BE IN RANGE OF 78,000 TO 80,000 BOE/D.BIRCHCLIFF ENERGY - Q4 2020 AVERAGE PRODUCTION IS NOW EXPECTED TO BE IN RANGE OF 81,000 TO 83,000 BOE/D.  Full Article

Birchcliff Energy Announces Unaudited 2019 Year-End And Fourth Quarter Results And 2019 Reserves Highlights
Thursday, 13 Feb 2020 

Feb 12 (Reuters) - Birchcliff Energy Ltd ::. ANNOUNCES UNAUDITED 2019 YEAR-END AND FOURTH QUARTER RESULTS AND 2019 RESERVES HIGHLIGHTS.Q4 LOSS PER SHARE C$0.07.Q4 EARNINGS PER SHARE ESTIMATE C$0.06 -- REFINITIV IBES DATA.QUARTERLY AVERAGE PRODUCTION OF 77,962 BOE/D, A 2% INCREASE FROM Q4 2018..QTRLY ADJUSTED FUNDS FLOW $0.30 PER BASIC COMMON SHARE.QTRLY PETROLEUM AND NATURAL GAS REVENUE $164.8 MILLION VERSUS $154.7 MILLION.  Full Article

Birchcliff Energy Announces 2020 Capital Program, 2020 Guidance And New Five Year Plan
Thursday, 23 Jan 2020 

Jan 22 (Reuters) - Birchcliff Energy Ltd ::BIRCHCLIFF ENERGY LTD. ANNOUNCES 2020 CAPITAL PROGRAM, 2020 GUIDANCE AND NEW FIVE YEAR PLAN.BIRCHCLIFF ENERGY LTD - FOR 2020, BOARD OF DIRECTORS HAS APPROVED A CAPITAL BUDGET OF $340 MILLION TO $360 MILLION.BIRCHCLIFF ENERGY LTD - FOR 2020 TARGETS AN ANNUAL AVERAGE PRODUCTION RATE OF 80,000 TO 82,000 BOE/D.BIRCHCLIFF ENERGY LTD - PLANS TO PROTECT ITS EXISTING WELLS BY PROACTIVELY SHUTTING-IN SOME PRODUCTION IN Q1 2020.BIRCHCLIFF ENERGY LTD - Q1 2020 PRODUCTION IS ANTICIPATED TO DECLINE FROM Q4 2019 LEVELS AND AVERAGE APPROXIMATELY 71,000 TO 74,000 BOE/D.BIRCHCLIFF ENERGY LTD - ACTIVELY WORKS TO MITIGATE IMPACT OF FRAC-DRIVEN INTERACTION ON ITS OPERATIONS.BIRCHCLIFF ENERGY LTD - FIVE YEAR PLAN FORECASTS THAT CO WILL GENERATE CUMULATIVE FREE FUNDS FLOW OF APPROXIMATELY $760 MILLION.BIRCHCLIFF ENERGY LTD - PRODUCTION IS EXPECTED TO RAMP UP IN Q3 2020.BIRCHCLIFF ENERGY LTD - LIQUIDS ARE EXPECTED TO INCREASE TO APPROXIMATELY 24% OF BIRCHCLIFF'S PRODUCTION COMMODITY MIX IN 2020.BIRCHCLIFF ENERGY LTD - EXPECTS ANNUAL AVERAGE PRODUCTION GROWTH WILL BE 3% TO 5% IN 2020 AND 10% TO 13% IN 2021.BIRCHCLIFF ENERGY LTD - ANNUAL AVERAGE PRODUCTION LEVELS ARE EXPECTED TO REMAIN RELATIVELY STABLE AT ABOUT 96,500 BOE/D OVER 2022 TO 2024.  Full Article

Birchcliff Energy Q2 Loss Per Share C$0.04
Thursday, 15 Aug 2019 

Aug 14 (Reuters) - Birchcliff Energy Ltd ::. ANNOUNCES STRONG Q2 2019 RESULTS RESULTING IN AN EXPANDED 2019 CAPITAL PROGRAM.Q2 LOSS PER SHARE C$0.04.Q2 EARNINGS PER SHARE ESTIMATE C$0.05 -- REFINITIV IBES DATA.QTRLY PRODUCTION AVERAGED 78,453 BOE/D , A 3% INCREASE.QTRLY PETROLEUM AND NATURAL GAS REVENUE $139.9 MILLION VERSUS $150.6 MILLION.  Full Article

Birchcliff Energy Q1 Earnings Per Share C$0.06
Thursday, 16 May 2019 

May 15 (Reuters) - Birchcliff Energy Ltd ::. ANNOUNCES Q1 2019 RESULTS AND PROVIDES AN OPERATIONAL UPDATE.Q1 EARNINGS PER SHARE C$0.06.Q1 EARNINGS PER SHARE ESTIMATE C$0.14 -- REFINITIV IBES DATA.QTRLY PRODUCTION AVERAGED 74,884 BOE/D.2019 CAPITAL PROGRAM IS ON TIME.RE-AFFIRMING OUR CORPORATE GUIDANCE FOR 2019.QTRLY ADJUSTED FUNDS FLOW $0.44 PER BASIC COMMON SHARE.WELL POSITIONED TO GENERATE SIGNIFICANT FREE FUNDS FLOW IN 2019.  Full Article

Birchcliff Energy Q3 Earnings Per Share C$0.03
Thursday, 15 Nov 2018 

Birchcliff Energy Ltd ::. ANNOUNCES STRONG THIRD QUARTER 2018 RESULTS, STRATEGIC MONTNEY LAND ACQUISITION IN POUCE COUPE AND PRELIMINARY 2019 PLANS.Q3 EARNINGS PER SHARE C$0.03.Q3 EARNINGS PER SHARE VIEW C$0.05 -- THOMSON REUTERS I/B/E/S.2019 PRELIMINARY F&D CAPITAL SPENDING IS CURRENTLY EXPECTED TO BE APPROXIMATELY $210 MILLION.QTRLY PRODUCTION AVERAGED 79,331 BOE/D, A 22% INCREASE FROM 65,276 BOE/D IN Q3 2017.SEES GENERATING ANNUAL AVERAGE PRODUCTION OF APPROXIMATELY 76,000 TO 78,000 BOE/D DURING 2019.SEES 2019 F&D CAPITAL SPENDING, PLUS ACQUISITION, TO BE ABOUT $249 MILLION.SEES 2019 ADJUSTED FUNDS FLOW $345 MILLION.SEES 2019 FREE FUNDS FLOW $135 MILLION.IF ECONOMIC CONDITIONS AND COMMODITY PRICES IMPROVE, CO HAS ABILITY TO INCREASE NATURAL GAS PRODUCTION IN 2019.BIRCHCLIFF - IF ECONOMIC CONDITIONS & COMMODITY PRICES REMAIN THE SAME/DETERIORATE, CO EXPECTS THAT IT WILL CHOOSE TO FOCUS ON DEBT REDUCTION IN 2019.  Full Article