Jan 16 (Reuters) - Canada’s Bellatrix Exploration Ltd expects its fourth-quarter production to rise by 40 percent, helped largely by more drilling success.
The company, which operates oil and natural gas reserves in Alberta, British Columbia and Saskatchewan, said it estimates the production to average about 14,000 barrels of oil equivalent per day (boepd), compared with 10,002 boepd last year.
Bellatrix expects 2011 production to average about 11,900 boepd. In 2010, it was 8,519 boepd.
The company’s exit production for 2011 rose by about 52 percent to 16,000 boepd.
In late November, the company had said it expected a higher exit production rate for 2012, between 18,000 and 18,500 boepd.
On Monday, the company said it has shut 1,800 boepd of natural gas production due to infrastructure constraints.
As a result, it sees production for the first quarter of 2012 averaging between 15,000 boepd and 16,000 boepd.
Shares of the company closed at C$4.84 on Friday on the Toronto Stock Exchange. (Reporting by Arnav Das Sharma in Bangalore; Editing by Maju Samuel)