BNEFF - Bonterra Energy: The Turnaround Continues
2024-07-08 17:10:00 ET
Summary
- Bonterra Energy has shifted its strategy towards more liquids production since the founder retired and new management runs the company.
- Bonterra Energy reported first quarter results with increased natural gas production, influenced by a cold winter causing shut-ins.
- Despite lower natural gas prices, the company's focus on liquids production prevented a large loss.
- Management's acquisition of Charlie Lake acreage demonstrates a continuing shift towards more valuable liquids production to grow overall production.
- The second quarter has a Spring Breakup and hence low operating activity. Any growth depends upon incompletions from the busy winter season.
When Bonterra Energy ( OTCPK:BNEFF ) reported the first quarter results , those results appeared to take a step backward because natural gas production was a larger part of the mix. At least part of those results was influenced by a very cold winter, causing some shut-in. But the acquisition mentioned in the first quarter report of some Charlie Lake acreage demonstrates that management will continue to replace natural gas production ( as discussed in the last article ) in the product mix with more valuable liquids production while also growing overall production for the first time in years....
Bonterra Energy: The Turnaround Continues