October 1, 2012 / 1:39 PM / 6 years ago

Bellatrix Exploration 3rd-qtr output hit by bad weather

Oct 1 (Reuters) - Bellatrix Exploration Ltd said production volumes for the current quarter will be below its expectations due to adverse weather and power outages.

The company, which operates oil and natural gas fields in Alberta, British Columbia and Saskatchewan, expects third-quarter production to be in the range of 15,500 and 16,000 barrels of oil equivalent per day (boe/d). Production rose to about 18,500 boe/d by the end of September.

Bellatrix said a protracted spring breakup and scheduled plant maintenance also hit output.

It forecast average daily production of about 20,000 to 21,000 boe/d for 2013 and maintained its forecast of 16,500 to 17,000 boe/d for this year.

The management has proposed a capital expenditure program of $180 million for 2013, above the $140 million set for the current year, the company said in a statement.

Shares of the company, which has market value of C$429 million, were flat at C$3.97 on Monday morning on the Toronto Stock Exchange.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below