Recent

% | $
Quotes you view appear here for quick access.

BPZ Resources, Inc. Message Board

  • don_t_panick don_t_panick Jul 25, 2014 1:15 AM Flag

    Q1 Production up 72% from prior year

    From the Q1 earnings press release:

    The Company's 51% share of oil production from the Corvina and Albacora fields at offshore Block Z-1 for the three months ended March 31, 2014 was 231 thousand barrels, or 2,566 bopd, compared to 134 thousand barrels, or 1,491 bopd, for the same period in 2013. The increased oil production is a result of the reinitiated drilling campaign at Block Z-1 which began in the second half of 2013

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • panick. Then how do you explain the NEGATIVE WORKING CASH FLOW the need to have such a huge SELF REGISTRATION overhanging everything?

      === "We currently have $500.0 million available under an effective shelf registration statement for debt securities, common stock, preferred stock, depositary shares and securities warrants, subscription rights, units or any combination thereof, which we may sell from time to time in one or more offerings pursuant to underwritten public offerings, negotiated transactions, at the market transactions, block trades or a combination of these methods. This registration statement will expire on January 2, 2017." ===

      • 1 Reply to avi.morax
      • Just about every company has shelf registrations. It's very typical standand stuff.. With their bonds trading near par, if they do need capital it would not be hard for them to sell debt. Of course you are conveniently forgetting that cash flow is ramping up and Pacific Rubiales is carrying substantially all block Z drilling costs through the end of the year. So other than some minor early stage stuff onshore, they don't need to spend any money on drilling. Gee Avi, maybe even you could figure out that having someone else pay for drilling sure cuts down on the need to spend cash - LOL.

    • From the 6/4 operational update:

      Second quarter 2014 gross production from the Block Z-1 development drilling program has averaged approximately 5,435 barrels of oil per day (bopd), or 2,772 bopd net to BPZ through June 3, 2014.

      Albacora Field

      The new A-21D development was completed in mid-May 2014 and the well has averaged 885 bopd gross, or 451 bopd net to BPZ for the past ten days.

    • Production up 72% in Q1 from prior year and we'll see more big sequential increases in Q2, Q3 & Q4 as Pacific Rubiales continues to hit some nice wells. Hey Avi, you must be reading the production chart upside down. Turn the paper over you #$%$

 
BPZ
0.23910.0000(0.00%)Feb 27 4:07 PMEST