Bellatrix Exploration Ltd. Provides Average Daily Production Guidance for the Years 2013 and 2014; Provides Earnings Guidance for the Year 2014
Based on the timing of proposed expenditures, downtime for anticipated plant turnarounds and normal production declines, execution of the 2014 budget is anticipated to provide 2014 average daily production of approximately +/- 44,000 boe/d and an exit rate of approximately +/- 47,000 boe/d.
The company announced that 2014 funds from operations are expected to be $360 million or $2.10 per basic share which when combined with the company's existing $500 million credit facilities, will provide ample funds to execute the budget while maintaining a strong balance sheet. The company expects to exit 2014 with net debt of approximately $410 million or 1.06 times net debt to trailing estimated fourth quarter 2014 funds from operations.