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BRIEF-Bellatrix Exploration board approved second half net capital budget of up to $40 mln

Published 2016-06-17, 03:09 p/m
© Reuters.  BRIEF-Bellatrix Exploration board approved second half net capital budget of up to $40 mln
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June 17 (Reuters) - Bellatrix Exploration Ltd BXE.TO
* Board of directors has approved a second half net capital
budget of up to $40 million
* Phased second half 2016 development plans and on-stream
delivery of new spirit river wells to coincide with stronger
forecast pricing later in year
* Deferral of on-stream activity to late 2016 is expected to
position co favorably on a much stronger natural gas pricing
environment in 2017
* Bellatrix exploration ltd says pricing for aeco natural
gas in dec 2016 of about c$2.70 /gj is 55% higher or nearly
c$1.00 /gj above current spot pricing
* During q2, bellatrix elected to shut in minor natural gas
volumes at non-core properties in southern alberta
* Bellatrix exploration ltd says capital investment for
first half of 2016 remains on plan and within guidance for
revised $40 million budget
* Bellatrix exploration ltd sees second half 2016 net
capital spending of $40 million
* Expects first half average production to meet first half
2016 guidance range of 37,500 to 38,500 boe/d.
* As at june 17, 2016 has hedged about 60% of gross natural
gas volumes at an average fixed price of about c$2.96 /mcf in
second half of 2016
* Bellatrix announces second half 2016 capital budget

Source text for Eikon: ID:nCNWZvh6Ta
Further company coverage: BXE.TO

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