January 17, 2011 / 11:57 AM / 7 years ago

UPDATE 1-Crocotta Energy says light oil output to double

* Natural gas production expected to be up 68 pct

* Approves C$51 mln budget for 2011

Jan 17 (Reuters) - Canadian oil and natural gas company Crocotta Energy Inc CTA.TO said production of light oil and natural gas liquids is expected to more than double.

Natural gas production is expected to be up 68 percent in 2011 from the current 10 million cubic feet per day (mmcf/d), while light oil and natural gas liquids production is estimated to more than double from current levels of 835 bopd, the company said.

Crocotta expects average 2011 production of 1,235 bopd of light oil and natural gas liquids and 13 mmcf/d of natural gas, for a total of 3,400 barrels of oil equivalent per day (boepd).

In September, the company said it expected production at 4,000-5,000 boepd by the end of 2011. [ID:nSGE68T0FF]

For 2011, Crocotta approved a budget of about C$51 million and said more than two-thirds will be spent on liquids-rich natural gas projects at Edson in west central Alberta. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)

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