CALGARY, Alberta, March 15, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that it has filed its annual audited financial statements (the “financial statements”) and related management’s discussion and analysis and its annual information form (the “AIF”) for the financial year ended December 31, 2022 (collectively, the “Annual Filings”) on the System for Electronic Document Analysis and Retrieval (“SEDAR”). The financial statements are consistent with the unaudited financial results disclosed in the press release issued by Birchcliff on February 15, 2023. The AIF contains the reserves data and other oil and … Continue Reading

CALGARY, Alberta, Feb. 15, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2022 full-year and fourth quarter financial and operational results and highlights from its independent reserves evaluation effective December 31, 2022.

“2022 was a record year for all of Birchcliff’s cash flow metrics. We generated record annual adjusted funds flow(1) of $953.7 million, record annual free funds flow(1) of $589.1 million and record annual net income to common shareholders of $653.7 million, with annual average production of 76,925 boe/d. As a result of the significant free funds flow … Continue Reading

CALGARY, Alberta, Jan. 18, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that its board of directors has declared a quarterly cash dividend of $0.20 per common share for the quarter ending March 31, 2023. Birchcliff is also pleased to announce its five-year plan for 2023 to 2027 and its 2023 budget and guidance.

“Our board of directors has approved a new five-year plan for 2023 to 2027, which is designed to generate substantial free funds flow, deliver significant returns to shareholders and establish a meaningful cash position, while achieving disciplined … Continue Reading

CALGARY, Alberta, Nov. 29, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that its board of directors has declared a quarterly cash dividend of $0.02 per common share for the quarter ending December 31, 2022. The dividend will be payable on December 30, 2022 to shareholders of record at the close of business on December 15, 2022. The ex-dividend date is December 14, 2022. The dividend has been designated as an eligible dividend for the purposes of the Income Tax Act (Canada).

About Birchcliff:

Birchcliff is a Calgary, Alberta based intermediate … Continue Reading

CALGARY, Alberta, Nov. 17, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the Corporation’s notice of intention to make a normal course issuer bid (the “NCIB”). The NCIB effectively renews the Corporation’s existing normal course issuer bid which is set to expire on November 24, 2022.

The NCIB allows Birchcliff to purchase up to 13,295,786 common shares (representing 5% of its 265,915,722 common shares outstanding as at November 11, 2022) over a period of twelve months commencing on November 25, 2022 and … Continue Reading

CALGARY, Alberta, Nov. 09, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q3 2022 financial and operational results.

“Birchcliff continued to deliver exceptional results in the third quarter, highlighted by quarterly average production of 78,079 boe/d, which resulted in record Q3 adjusted funds flow(1) of $267.4 million ($1.01 per basic common share(2)), record Q3 free funds flow(1) of $182.0 million ($0.69 per basic common share(2)) and record quarterly net income to common shareholders of $244.6 million ($0.92 per basic common share),” commented Jeff Tonken, Chief Executive Officer of Birchcliff.

Mr. … Continue Reading

CALGARY, Alberta, Oct. 13, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce a special dividend on its common shares, its preliminary 2023 guidance and updated 2022 guidance.

Jeff Tonken, Birchcliff’s Chief Executive Officer, commented: “By the end of 2022, we expect to have retired approximately $840 million of total debt(1) and preferred shares since June 30, 2020, nearing our goal of zero total debt. As a result, our board of directors has declared a special cash dividend of $0.20 per common share (approximately $53 million in aggregate(2)) payable on October 28, … Continue Reading

CALGARY, Alberta, Aug. 30, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that its board of directors has declared a quarterly cash dividend of $0.02 per common share for the quarter ending September 30, 2022. The dividend will be payable on October 3, 2022 to shareholders of record at the close of business on September 15, 2022. The ex-dividend date is September 14, 2022. The dividend has been designated as an eligible dividend for the purposes of the Income Tax Act (Canada).

On August 4, 2022, Birchcliff announced the redemption of … Continue Reading

CALGARY, Alberta, Aug. 10, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q2 2022 financial and operational results, which included record quarterly adjusted funds flow and free funds flow, resulting in a significant reduction in the Corporation’s total debt.

“Birchcliff had a record quarter in Q2 2022,” stated Jeff Tonken, Chief Executive Officer of Birchcliff. “We remain confident that Birchcliff will reach zero total debt and be in a cash surplus position in Q4 2022, based on the strength of forward commodity prices. We continue to target increasing our annual … Continue Reading

CALGARY, Alberta, Aug. 04, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) announces its intention to redeem all of its 2,000,000 issued and outstanding cumulative redeemable preferred shares, Series A (the “Series A Preferred Shares”) and all of its 1,528,219 issued and outstanding cumulative redeemable preferred shares, Series C (the “Series C Preferred Shares”) on September 30, 2022 (the “Redemption Date”) for a redemption price equal to $25.00 per share (the “Redemption Price”), less any tax required to be deducted or withheld by the Corporation. The aggregate Redemption Price payable by the Corporation to redeem … Continue Reading

CALGARY, Alberta, May 17, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce the release of its 2021 ESG Report, which details the Corporation’s environmental, social and governance (“ESG”) activities and performance metrics for the year ended December 31, 2021.

Birchcliff continues to be a leader in all aspects of its ESG performance and is committed to the safe and responsible production and delivery of clean, reliable natural gas and oil. Birchcliff remains steadfast on putting the environment and the safety of its people and all of its stakeholders at the forefront … Continue Reading

CALGARY, Alberta, May 13, 2022 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) is pleased to announce that at its Annual Meeting of Shareholders held on May 12, 2022 (the “Meeting”), shareholders elected all five of the proposed nominees listed in Birchcliff’s information circular dated March 28, 2022 (the “Information Circular”) and approved all other matters voted upon at the Meeting.

The matters voted upon at the Meeting were discussed in detail in the Information Circular, a copy of which is available on SEDAR at www.sedar.com and on Birchcliff’s website at www.birchcliffenergy.com. The voting results for each matter … Continue Reading