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blackpearl resources inc (BLKPF) Snapshot

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$1.44
Previous Close
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Day High
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Day Low
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52 Week High
04/29/14 - $2.86
52 Week Low
11/4/14 - $1.40
Market Cap
483.3M
Average Volume 10 Days
2.8K
EPS TTM
--
Shares Outstanding
335.6M
EX-Date
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Current Stock Chart for BLACKPEARL RESOURCES INC (BLKPF)

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blackpearl resources inc (BLKPF) Details

BlackPearl Resources Inc., an oil and natural gas company, is engaged in the acquisition, exploration, development, and production of oil and natural gas, primarily heavy oil and bitumen in Canada and the United States. The company holds interests in the Onion Lake Project comprising approximately 8,500 net acres of land located in Saskatchewan; and Blackrod Project with oil sand leases and permits in approximately 49,060 acres of land in the Blackrod area of northern Alberta. Its projects also holds interests in the Mooney project consisting of approximately 58,880 acres of land located in north-central Alberta; and the John Lake project covering approximately 4,480 acres located in the Cold Lake oil sands region in east central Alberta. In addition, the company holds interests in various other areas of Saskatchewan and Alberta, including Fishing Lake and Salt Lake; and in various areas in the United States, including Promised Land in Montana. The company was formerly known as Pearl Exploration and Production Ltd. and changed its name to BlackPearl Resources Inc. in May 2009. BlackPearl Resources Inc. was incorporated in 1984 and is headquartered in Calgary, Canada.

44 Employees
Last Reported Date: 02/27/14
Founded in 1984

blackpearl resources inc (BLKPF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$250.0K
Chief Financial Officer
Total Annual Compensation: C$250.0K
Vice President of Operations
Total Annual Compensation: C$250.0K
Vice President of Exploration
Total Annual Compensation: C$250.0K
Compensation as of Fiscal Year 2013.

blackpearl resources inc (BLKPF) Key Developments

BlackPearl Resources Inc. Announces Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Full Year 2014; Provides Capital Expenditures, Debt and Production Guidance for the Year 2015

BlackPearl Resources Inc. announced earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported that oil and gas revenue - gross was CAD 58.818 million compared with CAD 69.092 million for the same period last year. Net income for the period was CAD 7.013 million or CAD 0.02 basic and diluted per share compared with CAD 9.270 million or CAD 0.03 basic and diluted per share for the same period last year. Funds flow from operations was CAD 23.809 million compared with CAD 32.609 million for the same period last year. Capital expenditures were CAD 80.262 million compared with CAD 24.326 million for the same period last year. For the nine months, the company reported that Oil and gas revenue - gross was CAD 180.547 million compared with CAD 168.085 million for the same period last year. Net income for the period was CAD 10.571 million or CAD 0.03 basic and diluted per share compared with CAD 6.223 million or CAD 0.02 basic and diluted per share for the same period last year. Funds flow from operations was CAD 70.007 million compared with CAD 65.471 million for the same period last year. Capital expenditures were CAD 177.666 million compared with CAD 70.742 million for the same period last year. The decrease in revenues is primarily attributable to an 11% decrease in average oil price received this quarter compared with 2013. For the third quarter, the company reported that oil production was 8,744 bbl/d compared with 9,108 bbl/d for the same period last year. Natural gas was 3,024 mcf/d compared with 1,643 mcf/d for the same period last year. For the nine months, the company reported that oil production averaged 8,798 bbl/d compared with 9,237 bbl/d for the same period last year. Natural gas was 2,222 mcf/d compared with 1,491 mcf/d for the same period last year. The company expected oil and gas production to average between 9,000 and 9,500 boe/d for 2014, unchanged from second quarter update. Funds flow from operations for the year is anticipated to range between CAD 80 and CAD 85 million, again, unchanged from second quarter 2014 update. Capital spending for 2014 is expected to be between CAD 275 and CAD 285 million, a reduction from second quarter update estimate of CAD 280 to CAD 300 million. For the year 2015, the company has planned a capital expenditure program of between CAD 80 and CAD 85 million. Capital expenditures for 2015 will include completion of the Onion Lake thermal project, costs associated with the expansion of the ASP flood at Mooney, drilling horizontal wells on the phase 3 lands at Mooney, drilling 20 to 25 conventional heavy oil wells at Onion Lake and drilling up to 10 wells at John Lake and other areas. It is expected that this capital program will be largely funded from anticipated cash flow from operations and supplemented with existing credit facilities. For the year 2015 debt levels are anticipated to be approximately CAD 135 million. For the year 2014, oil and gas production should average approximately 9,500 boe/d.

BlackPearl Resources Inc. Presents at Peters & Co 18th Annual Energy Conference, Sep-09-2014 03:20 PM

BlackPearl Resources Inc. Presents at Peters & Co 18th Annual Energy Conference, Sep-09-2014 03:20 PM. Venue: The Ritz-Carlton, 181 Wellington Street West, Toronto, Ontario, Canada.

BlackPearl Resources Inc. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Production Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Production Guidance for the Year 2014

BlackPearl Resources Inc. reported financial results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported oil and gas revenues increased 7% to CAD 62.2 million compared with CAD 58.3 million in the second quarter of 2013. The increase is attributable to a 20% improvement in its average oil price received, partially offset by an 11% decrease in oil sales volumes. Net income was CAD 4,684,000 or CAD 0.01 per basic and diluted share compared to CAD 2,597,000 or CAD 0.01 per basic and diluted share last year. Capital expenditures were CAD 48,044,000 compared to CAD 27,315,000 last year. Funds flow from operations was CAD 23,161,000 compared to CAD 22,823,000 last year. For the first half, the company reported funds flow from operations increased by 41% to CAD 46.2 million compared to CAD 32.9 million in the same period in 2013. The increase is funds flow in 2014 is primarily a result of higher wellhead sales prices in 2014. The company generated net income of CAD 3.6 million compared to a net loss of CAD 3.0 million in the same period in 2013. The increase in net income in 2014 compared to the same period in 2013 is primarily a result of a higher wellhead sales price in 2014, partially offset by higher production costs and the loss on risk management contracts. Gross oil and gas revenue was CAD 121,729,000 compared to CAD 98,993,000 last year. Basic and diluted earnings per share were CAD 0.01 compared to basic and diluted loss per share of CAD 0.01 last year. Capital expenditures were CAD 97,404,000 compared to CAD 46,416,000 last year. The company reported production results for the second quarter and six months ended June 30, 2014. Oil and gas production averaged 8,897 boe per day in the second quarter of 2014 compared to 9,986 boe per day for the same period in 2013. The decrease in production in 2014 reflects natural production declines at Onion Lake, as well as production that was shut-in at Mooney during the quarter in order to undertake infrastructure improvements. In addition, at Mooney, due to pipeline pressure restrictions imposed on a third party gas transporter, the amount of gas the company was permitted to inject into their pipeline system was reduced, which restricted its gas sales in the area as well as oil production during the quarter. For the six months, the company reported oil and gas production averaged 9,129 boe per day compared to 9,539 boe per day for the same period in 2013. For the year, the company expects its oil and gas production to average between 9,000 and 9,500 boe/d for the year, unchanged from its first quarter update. Funds flow from operations for the year is anticipated to range between CAD 80 and CAD 85 million. This is slightly higher than its first quarter outlook as a result of using higher forecast oil prices in its second quarter update. Capital spending is expected to be between CAD 280 to CAD 300 million for the year, unchanged from its first quarter update.

 

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Valuation BLKPF Industry Range
Price/Earnings 47.9x
Price/Sales 2.9x
Price/Book 0.8x
Price/Cash Flow 6.4x
TEV/Sales 2.8x
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