Operational Updates | Capital Markets | Capital Expenditure
Baytex Provides First Quarter 2012 Bakken Update
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Operations Review
Production averaged 53,433 boe/d (86% oil and NGL) during the first quarter of 2012, as compared to 46,902 boe/d (82% oil and NGL) in the first quarter of 2011 and 53,054 boe/d (85% oil and NGL)in the fourth quarter of 2011. Compared to the first quarter of 2011, oil production increased 20%, while natural gas production decreased 12%. Compared to the fourth quarter of 2011, oil production increased 2%, while natural gas production decreased 4%.
Capital expenditures for exploration and development activities totaled $135.9 million for the first quarter of 2012. During the first quarter, Baytex participated in the drilling of 88 (71.4 net) wells with a 98% (97% net) success rate.
In our Bakken/Three Forks play in North Dakota, we participated in the drilling of 12 (2.4…
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