67 WALL STREET, New York - July 3, 2014 - The Wall Street Transcript has just published its Oil & Gas Review 2014 Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Oil & Gas Review 2014
Companies include: Bellatrix Exploration Ltd. (BXE) and many more.
In the following excerpt from the Oil & Gas Review 2014 Report, the Executive Vice President of Bellatrix Exploration Ltd. (BXE) discusses company strategy and the outlook for this vital industry:
TWST: Let's start out with a brief overview of Bellatrix Exploration and the company's history, activities, those kinds of things.
Mr. Eshleman: Bellatrix is a growth-oriented company in the Western Canadian Sedimentary Basin. Bellatrix was formed out of the plan of arrangement in 2009, and since then we have grown from roughly 6,000 BOEs a day to 40,000 BOEs a day, primarily through the drill bit, and with an acquisition in the fourth quarter of 2013 of Angle Energy.
TWST: Bellatrix saw 2013 end with record production, turning what appeared to be a difficult year into a very successful one. What were some of the goals set by the company, looking back 18 months ago, and how has the company faired against those goals?
Mr. Eshleman: 18 months ago, when we looked at what direction to take the company, we were sitting on an enormous asset base, 30-plus years of drilling inventory, and so we looked at how to cycle forward that inventory to add value on the bottom line for the shareholders. So the course we took for 2013, which was from the game plan that we had in 2012, was to conduct joint ventures to bring in promoted capital, and with that an acquisition became available to us late into the third quarter last year that we're able to consummate into the fourth quarter and acquire at accretive metrics across the board. We were very successful on cycling forward shareholder value by bringing in promoted joint venture capital that we started drilling with at the end of 2013, and will continue drilling with through 2014 and into 2015.
TWST: What are some of the company's priorities for the next 12 months? What would make that time frame a success?
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
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