|07:59 EDT||BTE||Baytex Energy sees FY14 production 74K-76K boe/d|
The company updated its 2014 guidance to reflect the expected closing date of the North Dakota asset sale. Capital spending plans are unchanged as it had previously incorporated a reduction in spending in North Dakota in the second half of this year. For the second half of 2014, capital expenditures for exploration and development activities are forecast to be C$440M-C$465M and it expects to generate an average production rate of 86,000 to 88,000 boe/d, previously 88,000 to 90,000 boe/d. FY14 production guidance is 74,000 to 76,000 boe/d, previously 75,000 to 77,000 boe/d, with budgeted exploration and development expenditures of C$765M-C$790M.