Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, October 18, 2013

Article Excerpt

BELLATRIX EXPLORATION LTD., $8.14, symbol BXE on Toronto, is buying Angle Energy (symbol NGL on Toronto) for $576 million in cash and shares. Angle currently produces 10,500 barrels of oil equivalent a day (58% oil and 42% natural gas) in Alberta. Bellatrix’s output is 22,500 barrels a day, so they will have combined daily production of 33,000 barrels. The purchase also increases Bellatrix’s inventory of drilling targets by 500, to over 2,000, and doubles its undeveloped land base to over 400,000 acres. The company now expects to end 2013 with production as high as 40,000 barrels a day, up from 30,000 to 31,000 before the Angle acquisition. It also expects Angle to immediately add to its cash flow per share. Bellatrix Exploration is still a buy. Please make sure you are logged in to your account to access these articles. Click here if you’ve lost your password. Bellatrix Exploration was recently covered in the Stock Pickers Digest Hotline for September 13, 2013. Click here…