Baytex Provides Operational Update - Q2 2017 Production Up 5%
Baytex Energy Corp Common Shares (BTE)
Last baytex energy corp common shares earnings: 3/4 06:30 am
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baytexenergy.com/investor/overview-investor-relations.cfm
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Source: GlobeNewswire
CALGARY, Alberta, June 26, 2017 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX:BTE) (NYSE:BTE) is pleased to provide an update on our operational progress during the second quarter of 2017 in accordance with our business plan. Based on field estimates for June, our average production during Q2/2017 is estimated at 72,500 boe/d representing a 5% increase over Q1/2017. We estimate our production in the first half of this year to be 70,900 boe/d. During the second quarter, exploration and development capital expenditures are estimated at $78 million, bringing the aggregate spending in the first half of 2017 to about $174 million. Production from our Eagle Ford area properties during Q2/2017 is estimated at 38,500 boe/d, an increase of 7% over Q1/2017. During the second quarter we averaged 4-5 drilling rigs and 1-2 completion crews on our lands and expect to bring approximately 35 gross (8 net) wells on production. We continue to see strong well performance driven by enhanced
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