Bonavista’s Third Quarter Highlighted by Additional Free Cash Flow Generation
Bonavista Energy’s third-quarter results were highlighted by another period of free cash flow generation and ongoing cost-control measures; combined, these should move the company onto more secure financial footing by year-end. Capital expenditures were down more than 60% year over year to CAD 32 million, which, not surprisingly, led to an 18% year-over-year drop in production. Bonavista continues to build a cash flow surplus--from both operating cash flow and divestitures--that the company expe...Bonavista Energy is engaged in the business of acquiring, developing and holding interests in oil and natural gas properties and assets. As of Dec 31, 2010, Co. total gross proved for natural gas consisting of 840.4 billion cubic feet, oil and liquids consisting of 83,695 thousand barrels and oil equivalent consisting of 223,756 thousand barrels of oil equivalent.
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