Loading...
Loading...
Bellatrix Exploration
BXE is pleased to confirm its 2014
guidance and announce that it has completed its mid-year review of its
2013 credit facilities and provides an update of its recent commodity
price risk management activities.
2013 has been an extraordinary year earmarked by significant production
growth, announcing three separate joint ventures designed to accelerate
our program on a promoted basis, an equity financing, redemption of its
convertible debentures and closing on December 11, 2013 of an impactful
corporate acquisition. These strategic transactions strengthen the
Company by accelerating our ability to provide shareholder value
accretion.
2014 Guidance
Bellatrix expects its 2013 calendar year average daily production will
be +/- 22,250 boe/d and that its exit rate guidance will be +/- 40,000
boe/d with total crude oil, condensate and NGLs at exit at
approximately 37%.
Since November 2013 and for all of 2014, Bellatrix plans to continue to
be active in drilling with 10 rigs operating in its two core resource
plays, the Cardium oil and Mannville condensate rich gas, utilizing
horizontal drilling multi-fracturing technology. With the closing of
the acquisition of Angle Energy Inc. ("Angle") in December
See full press release© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
We simplify the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in