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Bellatrix Mum On 2H16 Plans; Touts Drilling Ops, Cuts Debt in 1Q
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Bellatrix Exploration Ltd. has reported its first quarter 2016 results.
Key Points: In the first quarter of 2016, Bellatrix delivered a 100% success rate having drilled and/or participated in 10 gross (5.7 net) Spirit River liquids-rich gas wells. First quarter 2016 net profit of $19.3 million compared to a net loss of $12.7 million in the first quarter of 2015. Bellatrix remains focused on liquidity and balance sheet management, with total Company net debt at March 31, 2016 reduced by $3.8 million compared to year end 2015 levels. Bellatrix plans to provide second half of 2016 capital spending and production guidance mid-yearBellatrix successfully executed on its first quarter 2016 exploration and development program while remaining focused on three strategic operational and…
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