Bonterra Energy Corp., an oil and gas company, explores, develops, produces, and sells crude oil, natural gas, and natural gas liquids in the Western Canadian Sedimentary Basin. It primarily holds interest in oil and gas properties located in the Pembina and Willesden Green fields in west Central Alberta; and the Prespatou area of northeast British Columbia. The company also owns interest in the Shaunavon properties located in the Chambery field in Southwest Saskatchewan. Bonterra Energy Corp. is headquartered in Calgary, Canada.
1015 - 4th Street SW
Calgary, AB T2R 1J4
Bonterra Energy Corp Announces Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015
May 12 15
Bonterra Energy Corp. announced unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue-realized oil and gas sales of CAD 42,480,000 against CAD 68,940,000 a year ago. Funds flow was CAD 22,090,000 or CAD 0.69 per basic and diluted share against CAD 31,926,000 or CAD 0.99 per basic and diluted share a year ago. Cash flow from operations was CAD 26,079,000 or CAD 0.81 per basic and diluted share against CAD 50,465,000 or CAD 1.57 per basic and diluted share a year ago. Net loss was CAD 1,935,000 or CAD 0.69 per basic and diluted share against CAD 32,877,000 or CAD 1.03 per diluted share a year ago. Capital expenditures and acquisitions, net of dispositions were CAD 38,960,000 against CAD 20,605,000 a year ago. Bonterra's first quarter results have been impacted by the continued low commodity prices that started their decline in the third quarter of 2014. The price reductions have resulted in a large reduction in funds flow and made it necessary for the Company to reduce the monthly dividend, its budgeted 2015 capital expenditures and to delay the completion of drilled wells until commodity prices improve.
For the quarter, the company reported oil per day of 8,128 barrels against 8,762 barrels a year ago. NGLs per day were 791 barrels against 911 barrels a year ago. Natural gas per day was 19,709 MCF against 22,883 MCF a year ago. Total barrels of oil equivalent per day were 12,204 BOE against 13,488 BOE a year ago.
Bonterra Energy Corp Announces April 2015 Monthly Cash Dividend Payable on May 29, 2015
May 1 15
Bonterra Energy Corp. announced that the April 2015 monthly cash dividend will be $0.15 per share and will be paid on May 29, 2015. The record date for the dividend is May 15, 2015 and the ex-dividend date is May 13, 2015.
Bonterra Energy Closes Pembina Cardium Asset Acquisition
Apr 16 15
Bonterra Energy Corp. has closed the previously announced acquisition of certain Cardium focused assets in the Pembina area of Alberta from Enerplus Corporation for $172 million prior to normal closing adjustments, financed mainly through bank debt. With the closing, Bonterra has acquired approximately 1,800 boe per day of high-netback, low decline, conventional oil and natural gas liquids production that is complementary to the company's existing Pembina Cardium operations, as well as approximately 9.9 million boe of total proved and 13 million boe of proved plus probable reserves. A significant portion of the acquired land is under waterflood for pressure maintenance, which contributes to the low production decline rate of 7% and is expected to reduce Bonterras overall corporate decline rate by approximately 3%. The acquisition is consistent with Bonterras strategy to capitalize on opportunities to enhance the quality of its asset base, operations and overall returns to the shareholders.