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Birchcliff Energy Ltd T.BIR

Alternate Symbol(s):  BIREF

Birchcliff Energy Ltd. is a Canada-based intermediate oil and natural gas company. The Company is engaged in the exploration for and the development, production and acquisition of oil and gas reserves in Western Canada. The Company’s operations are focused on the Montney/Doig Resource Play in Alberta. Its operations are concentrated in the Peace River Arch area of Alberta. The Company has a 100% working interest in its Pouce Coupe Gas Plant and two oil batteries, as well as various working interests in numerous other gas plants, oil batteries, compressors, facilities and infrastructure. Its Pouce Coupe Gas Plant, which is licensed to process up to 340 million cubic feet per day (MMcf/d) of natural gas, is located in the heart of the Corporation's Montney/Doig Resource Play.


TSX:BIR - Post by User

Bullboard Posts
Comment by fergus2on Feb 27, 2015 2:14pm
101 Views
Post# 23473099

RE:RE:rig count -43

RE:RE:rig count -43It does seem that way gwizard, -given the last 2 days but these rig count figures bear some scrutiny. The combined rig count (both oil and gas directed rigs had reached a 2 year high on Sept 12, 2014. It remained at exactly that level for 3 reporting weeks and then Oct 3rd it began to decline in response to lower crude prices. As of today the combined total sits at 1260 which means that 670 rigs have been pulled out of production. From the start of the first actual decline (Oct 3rd) to today, equals 22 weeks, giving us an average weekly decline of 30 rigs per week. So as you can see, even the muted figures of the last 2 weeks of -48 and -43 are both still above the weekly average, and by a good margin.
Bullboard Posts