Bellatrix Exploration (BXE) has delivered operational performance that exceeded its initial expectations for 2018, allowing it to make positive revisions to its cost and production guidance. However, the challenge for Bellatrix is that low natural gas prices are more than offsetting the incremental gains from the improved operational performance.
Good Operational Performance
Bellatrix's guidance revisions shows that its operational performance has exceeded expectations in 2018. It has revised its full-year production guidance upward by around 500 BOEPD (at guidance midpoint), while the liquids percentage has also increased by 1% compared to initial expectations.