Bellatrix Exploration Ltd. Revises Capital Spending and Production Guidance for the Full Year of 2016
September 19, 2016 at 10:31 pm
Bellatrix Exploration Ltd. announced that it has entered into an agreement with InPlay Oil Corp. to sell certain non-core Cardium focused assets in the greater Pembina area of Alberta for total consideration of $47 million. Bellatrix has updated its full year 2016 guidance forecasts to incorporate the impact of the disposition which is anticipated to have a minor impact on full year guidance estimates. For the year, the company now expects average daily production of 36,000 boe/d against previous guidance of 36,250 boe/d.
For the year, the company expects net capital spending to be $77 million against previous guidance of $77 million.