Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BONTERRA ENERGY CORP. We currently have 30 research reports from 1 professional analysts.
|19Apr17 22:30||MKW||Bonterra Energy Corp. Announces Completion of the Annual Banking Review|
|03Apr17 12:00||MKW||Bonterra Energy Corp. Confirms Cash Dividend for March 2017 Payable April 28, 2017|
|14Mar17 22:10||MKW||Bonterra Energy Corp. Announces Filing of 2016 Annual Information Form|
|14Mar17 21:30||MKW||Bonterra Energy Corp. Announces Year End 2016 Results|
|01Mar17 12:00||MKW||Bonterra Energy Corp. Confirms Cash Dividend for February 2017 Payable March 31, 2017|
|07Feb17 22:55||MKW||Bonterra Energy Corp. Announces 2016 Year End Corporate Reserves Information|
|01Feb17 12:00||MKW||Bonterra Energy Corp. Confirms Cash Dividend for January 2017 Payable February 28th, 2017|
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BONTERRA ENERGY CORP
BONTERRA ENERGY CORP
Second Quarter Report Contains No Surprises
11 Aug 16
Bonterra’s second quarter production volumes were within 1% of both our estimate and the consensus, although increased to over 13,000 boe/d early in the third quarter as new wells were brought on stream and a portion of previously shut-in production was reactivated. Cash flow was modestly ahead of expectations due to lower royalties in the period, while both operating and transportation costs came in as expected. Guidance remains unchanged, with 2016e capital spending of ~$40 mm and production expected to average ~12,500 boe/d. With no significant changes to our forecast we maintain both our Outperform ranking and $32.00 per share target price.
2Q16e Quarterly Preview
26 Jul 16
Some Recovery on Segmented Cash Flow Generation Over Q1 Though Still Down 56% Y/Y. In aggregate, the Intermediate, Mid, and Small Cap groups are expected to generate 2Q16e cash flow of $1,281 mm, $183 mm, and $53 mm, or $1.517 billion in total, that while depressed relative to the same period last year (~$2.647 billion combined), is up 17% sequentially from the prior quarter, largely on the strength of crude oil price recovery in the period. Severely weak natural gas pricing picture markedly reversed into summer, market likely to ignore financials for natural gas producers and look ahead to winter and formalization of sell-side 2018e estimates in coming months. Spot AECO natural gas prices recently crested C$2.60/mcf, and with a reasonable alignment of previously distressed NE BC Stn2 differentials, augmented by a withdrawal expected next week, view the market psyche as constructive and looking ahead, with the analogy that this market is shaping up to mirror 2012 still holding. That said, with crude oil poised to retest support levels, combined with strong stock price performance broadly observed YTD, we would characterize sentiment as slightly pessimistic in the near-term which could reduce or unwind momentum-based investment strategies that have worked thus far in 2016.
ANNOUNCES ~10% REDUCTION TO BORROWING BASE
31 May 16
Impact: Neutral. The 10% reduction to Bonterra's credit facility to $380 mm is within our prior expectations given current commodity prices, and remains sufficient for the Company to execute on its previously outlined $40 mm capital budget while also paying down debt in 2016e.
25 May 16
We had the pleasure of hosting the Management team from Bonterra Energy to run through the Company's latest corporate presentation. Management noted at US$45.00/bbl WTI the Company is more than comfortable with its current dividend of $0.10 per month, while also reiterating plans to spend ~$40 mm of capital to keep production relatively flat at the 12,500 boe/d level. As before, Management continues to manage its production levels through the current downturn to ensure long term value creation. The Company's sustainability measures are aided by all in costs (royalties, operating, G&A, and interest) that are below $20.00/boe.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.