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Bellatrix Tags 37.7 MBOEPD in Q3 Production; Touts Spirit River Success
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Bellatrix reported its Q3 2017 results.
Highlights:
- Production volumes in the third quarter of 2017 averaged 37,710 boe/d (75% natural gas weighted), representing the third consecutive quarter that volumes have exceeded our full year 2017 average volume guidance.
- Average well performance from the Company's 2017 Spirit River well program has outperformed type curve expectations by over 50% on a IP150 basis.
- Third quarter production expenses averaged $7.84/boe, representing the third consecutive quarter of reduced costs. Third quarter expenses were reduced by $0.46/boe or 6% compared with second quarter 2017 expenses and have been reduced by $2.73/boe or 26% compared with fourth quarter 2016 levels
- Outstanding borrowings under our Credit Facilities at September 30, 2017 were $8.3 million, providing the Company with approximately $111.7 million of available liquidity (before deducting outstanding letters of credit). Other than amounts outstanding under our Credit Facilities, Bellatrix has no debt maturities until 2020 and 2021.
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