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anderson energy inc (AXL) Snapshot

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Previous Close
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52 Week High
08/6/14 - C$0.35
52 Week Low
01/30/15 - C$0.07
Market Cap
19.0M
Average Volume 10 Days
197.3K
EPS TTM
C$-0.04
Shares Outstanding
172.5M
EX-Date
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anderson energy inc (AXL) Details

Anderson Energy Ltd., together with its subsidiaries, acquires, develops, and produces conventional oil and natural gas reserves western Canada. Its principal property includes the Greater Willesden Green area located to the northwest of Calgary, Alberta. The company was founded in 2002 and is headquartered in Calgary, Canada. As of January 23, 2015, Anderson Energy Ltd operates as a subsidiary of Freehold Royalties Ltd.

26 Employees
Last Reported Date: 03/31/14
Founded in 2002

anderson energy inc (AXL) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$320.0K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$258.5K
Chief Operating Officer
Total Annual Compensation: C$258.5K
Vice President of Drilling and Completions
Total Annual Compensation: C$231.0K
Vice President of Exploitation
Total Annual Compensation: C$231.0K
Compensation as of Fiscal Year 2013.

anderson energy inc (AXL) Key Developments

Anderson Energy Inc. Provides Operations Update

Anderson Energy Inc. provided operations update. The company has completed its 2014/2015 winter drilling program with 10 gross (9.1 net capital, 8.0 net revenue) wells drilled. Due to weak commodity prices, the drilling of the remaining 3 gross (2.2 net) wells in the planned program has been deferred. Seven of the nine Cardium wells drilled have more than 30 days of initial production ("IP 30"). The average production results from the 7 gross (5.3 net) Cardium wells were excellent and have on average exceeded the company's expectations with an average IP 30 of 398 BOED (82% oil, condensate and NGL). The IP 30 and product mix results of the Cardium wells from the 2014/2015 winter drilling program as noted above compares favourably with the 2013/2014 winter drilling program which had an average IP 30 of 511 BOED (53% oil, condensate and NGL). A comparison of the oil, condensate and NGL components of the BOED production for the two drilling programs shows an average IP 30 of 327 barrels per day for the 2014/2015 winter drilling program and 272 barrels per day for the 2013/2014 winter drilling program. Notwithstanding the market perception of the current oil price environment, oil, condensate and NGL remain more valuable than solution gas, and a higher percentage of oil, condensate and NGL in the company's product mix can be more important to overall revenue and profitability than the overall BOED production rate. All of the company's Cardium wells drilled during the 2014/2015 winter drilling program have been, or will be, completed with slick water fracture stimulation technology and have benefitted from the company's selective positioning of the horizontal well trajectory. Of the nine Cardium wells drilled in the 2014/2015 winter drilling program, five are in the Central land block, two are in the Northern land block and one is in the Southern land block of the greater Willesden Green area. The average IP 30 for the company's 15 Cardium well completions in the greater Willesden Green area on company lands since December 2012 is 458 BOED (65% oil, condensate and NGL). At the end of December 2014, exit production volumes were 3,400 BOED (41% oil, condensate and NGL). Production in the fourth quarter was impacted by maintenance outages on the TCPL system.

Anderson Energy Ltd, Special/Extraordinary Shareholders Meeting, Jan 22, 2015

Anderson Energy Ltd, Special/Extraordinary Shareholders Meeting, Jan 22, 2015., at 10:00 Mountain Standard Time. Location: Westwinds Conference Room, 2nd Floor, Selkirk House. Agenda: To consider, pursuant to an order of the Court of Queen's Bench of Alberta, if deemed advisable, to pass a special resolution to approve an arrangement under section 193 of the Business Corporations Act involving, among others, Anderson, the Anderson Shareholders, 1862894 Alberta Ltd. and Freehold Royalties Ltd.; and to transact such other business as may properly come before the meeting or any adjournment thereof.

Anderson Energy Ltd Announces Consolidated Unaudited Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Full Year of 2014 and Revised Capital Budget for the Full Year of 2014

Anderson Energy Ltd. announced consolidated unaudited earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenue, net of royalties and other gains of $9,958,000 compared with $10,831,000 for the same period a year ago. Loss from operating activities was $375,000 compared with $47,071,000 for the same period a year ago. Loss before taxes was $2,953,000 compared with $50,437,000 for the same period a year ago. Loss and comprehensive loss for the period was $2,953,000 or $0.01 per basic and diluted share compared with $48,737,000 or $0.28 per basic and diluted share for the same period a year ago. Funds from operations were $2.3 million in the third quarter of 2014, up 64% from the third quarter of 2013. The company spent $9.4 million on capital projects in the third quarter of 2014, compared to $3.8 million (net of minor property dispositions) in the second quarter of 2014. Adjusted loss before taxes was $2,953,000 compared with $5,856,000 for the same period a year ago. Cash from operating activities was $3,060,000 compared with $1,626,000 for the same period a year ago. For the nine months, the company reported total revenue, net of royalties and other gains of $35,758,000 compared with $38,764,000 for the same period a year ago. Earnings from operating activities was $4,321,000 compared with loss from operating activities of $49,276,000 for the same period a year ago. Loss before taxes was $3,402,000 compared with $59,222,000 for the same period a year ago. Loss and comprehensive loss for the period was $3,402,000 or $0.02 per basic and diluted share compared with $103,156,000 or $0.60 per basic and diluted share for the same period a year ago. Net cash provided by operations was $13,529,000 compared with $10,750,000 for the same period a year ago. Property, plant and equipment expenditures was $30,221,000 compared with $8,116,000 for the same period a year ago. Total net debt was $97,334,000 on September 30, 2014 compared with $79,240,000 for the period ended on December 31, 2013. Funds from operations were $13.3 million in the first nine months of 2014, up 15% from the same period of 2013. Adjusted loss before taxes was $3,402,000 compared with $14,641,000 for the same period a year ago. Cash from operating activities was $13,529,000 compared with $10,750,000 for the same period a year ago. For the quarter, the company produced oil and condensate of 568 bpd compared with 1,061bpd for the same period a year ago. NGL was 171 bpd compared with 202 bpd for the same period a year ago. Natural gas was 12,323 Mcfd compared with 13,119 Mcfd for the same period a year ago. Barrels of oil equivalent was 2,793 BOED compared with 3,449 BOED for the same period a year ago. For the nine months, the company produced oil and condensate of 806 bpd compared with 1,305 bpd for the same period a year ago. NGL was 161 bpd compared with 190 bpd for the same period a year ago. Natural gas was 12,525 Mcfd compared with 14,157 Mcfd for the same period a year ago. Barrels of oil equivalent was 3,055 BOED compared with 3,854 BOED for the same period a year ago. The Company's 2014 annual production guidance is 3,200 BOED (34% oil, condensate and NGL). Exit production guidance for 2014 remains unchanged at 3,700 BOED (42% oil, condensate and NGL). The company has increased its 2014 capital budget to $52 million from $46 million.

 

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