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July 3, 2014
08:04 EDTBXEBellatrix Exploration announced Ferrier Area Gas Plants returns to full capacity
Bellatrix Exploration announced that the Ferrier Area Gas Plants, that had been shut in for scheduled and unscheduled plant turnarounds in the first half of 2014 resulting in significant production restrictions, have returned to full capacity as of June 30. Bellatrix's daily production is estimated to have averaged 36,600 boe/d in the second quarter due to these restrictions. With removal of these restrictions production is currently estimated to be 40,000 boe/d. In addition the company has 4,000 boe/d behind pipe that is expected to come on-stream in July. Based on the timing of proposed expenditures, normal production declines, and execution of the revised $500M 2014 capital budget the company reaffirms its unchanged 2014 average daily production guidance of approximately to +/- 41,000 boe/d and an exit rate guidance of approximately +/- 48,000 boe/d.
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