January 26, 2012 / 11:24 PM / 6 years ago

UPDATE 1-Legacy Oil + Gas sees higher 2012 output

Jan 26 (Reuters) - Legacy Oil + Gas said it expects 2012 production to grow 29 percent, helped by strong results at its assets in southern Manitoba and North Dakota.

Legacy expects to produce 16,300 barrels of oil equivalent per day (boe/d) and exit 2012 with an average production rate of 17,900 boe/d.

The Calgary-based oil and gas producer expects to spend $305 million this year to focus on light oil development.

Legacy’s assets include the Spearfish play in southern Manitoba and North Dakota and the Rundle at Turner Valley in the Canadian Rockies.

Shares of the company closed at C$12.30 on Thursday on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Roshni Menon)

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