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Last C$0.51 CAD
Change Today -0.03 / -5.56%
Volume 35.3K
As of 1:18 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

bnk petroleum inc (BKX) Snapshot

Open
C$0.53
Previous Close
C$0.54
Day High
C$0.53
Day Low
C$0.51
52 Week High
09/2/14 - C$1.27
52 Week Low
01/29/15 - C$0.26
Market Cap
83.0M
Average Volume 10 Days
395.2K
EPS TTM
C$-0.0038
Shares Outstanding
162.7M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for BNK PETROLEUM INC (BKX)

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bnk petroleum inc (BKX) Details

BNK Petroleum Inc. engages in exploration, development, production, and marketing of unconventional oil and gas resource plays in the United States, Poland, and Spain. The company produces crude oil, natural gas, and natural gas liquids. It has working interests in approximately 16,295 net acres of shale oil acreage in the Caney/Upper Sycamore formations of the Tishomingo Field, Oklahoma. As at December 31, 2014, the company had proved plus probable gross reserves of approximately 37.4 million barrels of oil equivalent (Boe); and proved plus probable plus possible gross reserves of approximately 70.3 million Boe in the Tishomingo Field. BNK Petroleum Inc. was incorporated in 2008 and is headquartered in Camarillo, California.

42 Employees
Last Reported Date: 03/13/15
Founded in 2008

bnk petroleum inc (BKX) Top Compensated Officers

Chief Executive Officer, President, Director ...
Total Annual Compensation: $365.2K
Chief Financial Officer and Vice President
Total Annual Compensation: $261.7K
Vice-President of European Operations
Total Annual Compensation: $275.2K
Vice President of Exploration
Total Annual Compensation: $245.9K
Vice President of U.S. Operations
Total Annual Compensation: $91.3K
Compensation as of Fiscal Year 2014.

bnk petroleum inc (BKX) Key Developments

BNK Petroleum Inc. Announces Unaudited Consolidated Earnings and Operating Results for the Second Quarter and Six Months Ended June 30, 2015

BNK Petroleum Inc. announced unaudited consolidated earnings and operating results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported that revenue, net of royalties was $4.0 million for second quarter of 2015 compared to $6.0 million in the second quarter of 2015 due to lower prices in 2015. In the second quarter of 2015, the company generated a net loss of $3.7 million compared to net income of $199,000 in the second quarter of 2014. The 2015 net loss included unrealized losses on commodity contracts of $3.1 million as the company had to mark its commodity contracts to market as oil prices increased throughout the second quarter before falling down to their current levels subsequent to quarter-end. Cash flow from operating activities was $1.6 million for the second quarter of 2015 compared to $2.3 million in the second quarter of 2014. Capital expenditures decreased by 81% to $4.2 million primarily due to the prior year drilling and completion of the Gapowo well in Poland. Capital expenditures in the second quarter of 2014 were $22.7 million. Oil and gas gross revenues totaled $5,335,000 in the second quarter 2015 versus $7,431,000 in the second quarter of 2014. Oil revenues were $4,519,000 in the quarter versus $6,697,000 in the second quarter of 2014, a decrease of 33% as average oil prices decreased 47% or $47.58 a barrel for the quarter, partially offset by an increase in production of 27%. Natural gas revenues increased $20,000 or 6%, as natural gas production increased 99% which was partially offset by a 47% decrease in average natural gas prices compared to the second quarter of 2014. Natural Gas Liquid (NGL) revenue increased $62,000 or 16% to $461,000 as average production increased 116% which was partially offset by an average NGL price decrease of 47%. Average netbacks were $24.88 per BOE for the quarter, a decrease of 58% compared to the second quarter of 2014 due to lower prices in 2015 partially offset by lower operating costs per barrel. For the six months, the company reported that revenue, net of royalties was at $7.2 million for first six months of 2015 compared to $11.5 million for the first six months of 2014, a decrease of 37%, due to lower prices in 2015. Average netbacks were $24.21 per BOE for the first six months of 2015, a decrease of 58% compared to the first six months of 2014 due to lower prices in 2015 partially offset by lower operating costs per barrel. If the realized gains from the commodity contracts are included, the average netbacks for the first six months of 2015 increase by more than $6/barrel to $30.44 per BOE. Cash flow from operating activities was $2.9 million for the first six months of 2015 compared to $5.3 million in the first six months of 2014 due mainly to lower prices. Capital expenditures decreased by 76% to $8.6 million primarily due to the prior year drilling and completion of the Gapowo well in Poland. Average production for the second quarter of 2015 was 1,490 BOEPD, an increase of 49% compared to second quarter 2014 production of 999 BOEPD due to the completion of the Nickel Hill 36-3H well and the remaining portion of the Emery 17-1H well during the second quarter. Average production was 1,369 BOEPD for the first six months, an increase of 40% compared to the prior year six months production of 980 BOEPD due to the completion of the Nickel Hill 36-3H well and the remaining portion of the Emery 17-1H well during the second quarter of 2015.

BNK Petroleum Inc. to Report First Half, 2015 Results on Aug 13, 2015

BNK Petroleum Inc. announced that they will report first half, 2015 results on Aug 13, 2015

BNK Petroleum Inc. Provides Update on its Tishomingo Field, Caney Shale Oil Operations in Oklahoma

BNK Petroleum Inc. is providing an update on its Tishomingo Field, Caney shale oil operations in Oklahoma. The Company has been flowing back the Nickel Hill 36-3H and Emery 17-1H wells after fracture stimulating 22 and 12 stages respectively, as previously announced. Production from the Nickel Hill 36-3H well over the last week averaged about 435 barrels of oil equivalent per day (BOEPD) of which 245 barrels are oil, with the well still cleaning up as the Company restricted the flowback more than normal due to the recent heavy flooding in Oklahoma. The well was drilled in an area of the field that has a more complex localized structure, with the expectation that this would enhance production. It continues to free-flow without an artificial lift and is exhibiting a stronger mix of gas to oil than other Caney wells in this area. The Company believes that some portion of this higher pressured gas is being channeled from a deeper source through a complex fault and fracture system that defines the northern limb of this localized structure. The Company expects the decline rate to be quite shallow as a result of the increased gas with ultimate recovery in line with its type curve. The Emery 17-1H well has also been flowing back after the Company re-entered the well and stimulated 12 stages. The well's 21-day initial production (IP) rate is about 194 BOEPD, of which 164 barrels are oil, with production over the 21 days declining much less than prior Caney wells.

 

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Price/Cash Flow 23.1x
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