January 18, 2011 / 12:36 PM / in 7 years

UPDATE 1-Fairborne Energy sees higher Q4 production

* Sees Q4 average production of 16,000 boe/d

* Sees FY 2010 average production of 15,200 boe/d

* Sees FY 2011 avg production of 17,500 to 18,000 boe/d

Jan 18 (Reuters) - Canadian oil and natural gas company Fairborne Energy Ltd FEL.TO said it sees a 20 percent rise in its fourth quarter production.

For 2010, the Calgary, Alberta-based company said it expects average production of about 15,200 barrels of oil equivalent per day (boe/d), up 5 percent over 2009.

Fairborne, which is currently operating three drilling rigs in the Alberta Deep Basin and one at Sinclair, Manitoba, also said it sees 2011 annual average production at 17,500 to 18,000 boe/d.

Fourth-quarter production is expected to average about 16,000 boe/d, the company said in a statement.

Shares of the company closed at C$4.27 on Monday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Joyjeet Das)

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