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.
|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|
|03Jan17 12:00||MKW||Bonterra Energy Corp. Confirms Cash Dividend for December 2016 Payable January 31st, 2017|
|17Mar16 21:13||MKW||Bonterra Energy Corp. Announces Year End 2015 Results|
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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.
27 Mar 17
Elecosoft* (ELCO): Steadily building profits (CORP) | Bioventix* (BVXP): Interim results lead to upgrades (CORP) | Hurricane Energy (HUR): Halifax discovery (BUY) | KBT Business Technology* (KBT): interims and contract win (CORP) | Independent Oil & Gas* (IOG): Licence updates (CORP)
28 Mar 17
ClearStar* (CLSU): Building a background for growth (CORP) | Sound Energy (SOU): TE-8 results (HOLD) | LiDCO* (LID): 2017 should be a transformative year (CORP) | Proteome Sciences* (PRM): FY 2016 in line. Moving towards breakeven (CORP) | Fulcrum (FCRM): Significant market potential, rising margins and a strong balance sheet (BUY) | Mortgage Advice Bureau (MAB1): Strong and growing intellectual property (BUY) | 7digital* (7DIG): Open offer result (CORP)
GMP FirstEnergy ― UK Energy morning research package
27 Mar 17
Amerisur Resources (AMER LN)6; HOLD, £0.30: Reduced 2017e production outlook and year-end 2016 reserves | Condor Petroleum (CPI CN)8 ; BUY, C$3.50: Reports 4Q16 results and remains on track for first production from Turkey in mid-2017e | Hurricane Energy (HUR LN) (not covered): Halifax well update in the UK | Cairn Energy (CNE LN): BUY, £2.90: Update on the VR-1 well in Senegal by Far (FAR AU) (Not covered) | Royal Dutch Shell (RDSA/B LN) (not covered): Divestment of Gabonese assets
Strong trading leads to upgrades
22 Mar 17
On the back of today’s positive trading update and slightly upgraded profit forecasts for FY2017, FY2018 and FY2019 we have reviewed our DCF analysis. This has led to an increased DCF valuation per share of 1500p (from 1200p) which we have made our new target price (from 1200p). Both TFP and JC Paper have contributed to the upgrades shown in the table below as have favourable currency movements. With the potential for further upgrades due to capitalising 3DP costs to come we maintain our Add recommendation.
Panmure Morning Note 22-03-2017
22 Mar 17
Acacia Mining and Endeavour Mining confirmed merger talks have now ended with Endeavour claiming an inability to “create adequate value for Endeavour shareholders”, most likely, we believe, given the disappointing ruling from the Tanzanian government on copper-gold concentrate sales. We were positive on the merger and believed a credible London listed Pan-African producer capable of challenging Randgold, would have been established. We make no change to our Hold recommendation today, and expect the shares to be marked lower in early trade.