Birchcliff Energy Ltd. - BIR-T

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Company Highlights:

  • Birchcliff is a Montney low decline natural gas entity which had production of 73,746 boe/d  (83% natural gas) in Q2/22 in a focused contiguous land position. It is generating significant free funds flow to totally pay down all its debt this year. BIR currently pays an $0.08 dividend ($0.02 quarterly) but sees room in 2023, after all debt is paid off, to increase the dividend to $0.80 per share ($0.20 per quarter). It has a growth plan to lift production to 90,000 boe
  • With the start up of the LNG plants on the west coast of BC in 2025, demand for reserves will rise substantially. LNG companies will likely have to buy  those reserves via corporate acquisitions. Birchcliff should be one of the companies on the radar as it has over 1Tcf of 2P reserves and a very attractive, 35-year 2P reserve life index.
  • Birchcliff has $3B market cap and insiders are significant shareholders. Cash flow in 2022 should reach $4.00 per share. We have a $25 per share Bull Market Peak target.
Dave Humphreys
Dave Humphreys
Executive Vice President, Operations
Mr. Humphreys is the Executive Vice President, Operations of the Corporation and is responsible for overseeing Birchcliff’s drilling and completions, facilities, production, health and safety, environmental and corporate responsibility (ESG) teams. He has over 37 years of experience in the oil and natural gas industry, including in the areas of executive leadership, operations, drilling and completions, health and safety, corporate governance and sustainability.
Mr. Humphreys joined Birchcliff in October 2009 and served as the Vice President, Operations from October 2009 to December 2021. Prior to joining Birchcliff, he served as the Vice President, Operations of Highpine Oil & Gas Ltd., White Fire Energy Ltd. and Virtus Energy Ltd. and was a Production Manager with both Husky Oil Operations Limited and Ionic Energy. Mr. Humphreys is currently a member of the Board of Governors of the Explorers and Producers Association of Canada (EPAC) and was the Chair in 2020. He is also a director of Energy Safety Canada (ESC) and sits on the Safety Standards Council (SSC).
Mr. Humphreys holds a Hydrocarbon Engineering Technology diploma from the Northern Alberta Institute of Technology (NAIT) and is a member of APEGA, holding a Professional Licensee (Engineering) designation. He is a member of the Association of Science & Engineering Technology (ASET). Mr. Humphreys also holds an ICD.D designation with the Institute of Corporate Directors (ICD).