Bellatrix Exploration Ltd (Canada) BXEFF

Alder Flats

[radcat]

They still own 25% of the Alder Flats gas plant, don't they? Dump it!! Negotiate that BXE production gets first priority as a condition of sale. Gas plant is now a luxury they cannot affod to keep


.Total natural gas liquid ("NGL") recoveries (including plant condensate) at the Bellatrix O'Chiese Nees-Ohpawganu'ck deep-cut plant at Alder Flats (the "Alder Flats Plant") remain strong, with NGL sales yields of approximately 66 bbl/MMcf in the first half of 2019, compared to first half 2018 total sales yields of approximately 55 bbl/MMcf. Given continued strong liquids recoveries, Bellatrix's corporate liquids weighting has averaged 29% year to date, resulting in a commensurate improvement in our 2019 full year average guidance expectation to 29%, up from 28% previously. During the second quarter, Bellatrix completed a planned five-day turnaround at the Alder Flats Plant, which was completed safely, on-time, and on-budget.

 

[Straite]

Recall, they sold 35% of alder flats to keyera in 2016 for 112.5M$ before it was upgraded (doubled capacity). I think they still own 30 or 25% of the new doubled capacity plant? Could be worth 200M alone. Also, They acquired Daewoo in nov 2018 for 9.5m$ 1,250 boe/d 35% liquids or 7,500$/boe, which was perceived as a great deal at the time. 36,000boe/d*7,500$/boe = 270M$ Also, one of their assets

[Straite]

However, I am not certain the tax loss can be transferred to the acquirer. Good thing to search/know i guess.

[Straite]

https://www.mondaq.com/canada/x/7719/Taxation+a+Key+Element+of+Merger+Acquisition+Structuring+in+Canada The ability to use non-capital losses after an acquisition of control requires that the business which gave rise to the losses continue to be carried on for profit or with a reasonable expectation of profit. The losses can offset future income generated by that business or a similar business

[projectleopold]

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[projectleopold]

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