Exploration & Production | Quarterly / Earnings Reports
Baytex Maintains Peace River Production Upswing into Q2
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Baytex Energy Corp. has reported that during the second quarter of 2013, operations continued to advance in accordance with budget expectations.
Based on field estimates for June, average production during Q2/2013 is estimated at 57,500 to 58,000 boe/d. This represents an 11% increase over Q1/2013 and a 9% increase over Q2/2012. The increased production in conjunction with improved pricing for heavy oil will have a positive impact on the company's funds from operations for Q2/2013.
Production from the Peace River area properties during Q2/2013 is estimated at 23,000 bbl/d, an increase of 22% over Q1/2013 and 19% over Q2/2012. In the second quarter of 2013, Baytex drilled 17 (17.0 net) cold horizontal producers in the Peace River area bringing year-to-date drilling to 23 (23.0 net) wells…
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