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Bonterra Energy Corp T.BNE

Alternate Symbol(s):  BNEFF

Bonterra Energy Corp. is a Canada-based conventional oil and gas company with operations in Alberta, Saskatchewan, and British Columbia. The Company operates through development and production of oil and natural gas in the Western Canadian Sedimentary Basin segment. Its operating areas include Pembina Cardium and other areas, which include Saskatchewan and Northeast British Columbia. The Company is focused on the development of the Pembina and Willesden Green Cardium lands within central Alberta. It has Shaunavon properties in the Chambery field, which produce medium density crude oil from the upper Shaunavon formation under waterflood. It also has assets in the Prespatou area of northeast British Columbia, which consists almost entirely of natural gas and associated natural gas liquids. It also has an undeveloped Charlie Lake asset that is prospective for light oil in Bonanza, Alberta. The Company has over 116 net sections of contiguous land in the light oil prone Charlie Lake.


TSX:BNE - Post by User

Bullboard Posts
Comment by efficientmyasson Jan 04, 2019 5:44pm
78 Views
Post# 29188526

RE:RE:Cash Flow at $53 WTI

RE:RE:Cash Flow at $53 WTIyour revenue looks light for a realized price of  $61 CDN/B and a level of capex sufficient to keep production flat (which should be possible at $55 million)

assuming production of:

8000 BO/D 
24,000 MCF gas
1000 BNGL/D

and pricing of:

$61 CDN (1.34 fx)
$1.9 (last 8 quarters their realized price has averaged $2.23) CDN
$30 CDN

$178,120,000
$16,644,000
$10,950,000
$$205,714,000

also, if they cut the number of service rigs back from 4 to 2, that opex number will come back closer to $12 than $14

I don't think the us shale plays can be developed for any meaningful amount of time at less than $70 usd, so $53 WTI is an unrealistically conservative number (longer term).  

Plenty of money to increase the the capital return program to $20mm and pay down the debt by a comparable amount (using the above numbers).  




Bullboard Posts