August 10, 2011 / 9:08 PM / in 6 years

UPDATE 1-Birchcliff Energy's Q2 profit doubles

* Q2 EPS $0.08 vs $0.04 yr ago

* Q2 rev up 51 pct at $67.5 mln

* Backs FY production outlook

* Sees to exit 2011 with production of 27,000-28,000 boe/d (Follows alerts)

Aug 10 (Reuters) - Birchcliff Energy Ltd’s second-quarter earnings nearly doubled as it cashed in on higher production and lower operating costs, and it backed its full-year production outlook.

For 2011, Birchcliff expects production to average about 18,500 barrels of oil equivalent per day (boe/d). It sees to exit 2011 with average production of 27,000-28,000 boe/d.

Net income for the second quarter was $10.1 million, or 8 cents a share, compared with $5.1 million, or 4 cents per share, a year ago.

Petroleum and natural gas revenue rose 51 percent to $67.5 million.

Production rose 40 percent to an average of 17,234 boe/d, buoyed by drilling successes at its Montney/Doig horizontal natural gas assets. Production is currently at around 17,700 boe/d.

Shares of the company closed at C$12.21 on Wednesday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Gopakumar Warrier)

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