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Despite the lowest production volume since Q3 2017, Birchcliff Energy (OTCPK:BIREF) reported a record high adjusted funds flow during Q1 2019. The performance is due to one-time events and higher liquids production.
Besides the short-term results, the increasing liquids production will support strong netbacks. Also, management confirmed the guidance and the free cash potential above C$100 million in 2019.
But, in this article, I describe why investing in Birchcliff isn't about its free cash flow potential over the short term. In the current Canadian oil and gas environment, the market offers much better