April 3 (Reuters) - Birchcliff Energy Ltd BIR.TO :
* BIRCHCLIFF ENERGY LTD. AND ALTAGAS LTD. ANNOUNCE NEW LONG-TERM PROCESSING ARRANGEMENT AT ALTAGAS' DEEP CUT PROCESSING FACILITY IN GORDONDALE
* IS UPDATING ITS GUIDANCE RANGE FOR ITS 2018 ANNUAL AVERAGE OPERATING EXPENSE TO $3.40/BOE TO $3.60/BOE
* TERM OF PROCESSING ARRANGEMENT IS FOR AT LEAST 15 YEARS, SUBJECT TO EXTENSION IN ACCORDANCE WITH TERMS OF AGREEMENT
* NEW PROCESSING ARRANGEMENT WILL BE EFFECTIVE FROM JAN 1 AND WILL REPLACE CO AND ALTAGAS' EXISTING GORDONDALE PROCESSING ARRANGEMENT
* BIRCHCLIFF, ALTAGAS AND CERTAIN AFFILIATES OF ALTAGAS HAVE ALSO ENTERED INTO A PRODUCT PURCHASE AND SALE AGREEMENT
* PURSUANT TO THE PRODUCT PURCHASE AND SALE AGREEMENT, BIRCHCLIFF WILL SELL PROPANE TO ALTAGAS PARTIES