Exploration & Production | Operational Updates
Bellatrix Exploration Provides Update on Duvernay and Cardium Projects; CapEx Adjusted
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Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces updated 2012 capital expenditure plans and guidance.
In light of the uncertainty of the commodity price environment, Bellatrix had entered into a number of natural gas and crude oil hedges in order to provide stability in a base level of cash flow to fund the Company’s 2012 capital program. Natural gas hedges are in place on 36.4 mmcf per day with an average fixed price of $3.87/mcf from May 1 through October 31, 2012. Crude oil hedges were also put in place on 3,000 bopd at an average fixed price of CDN$92.30/bbl for the period January 1 through to December 31, 2012. These combined hedges which are in place for 2012 provide support to a cash flow based capital expenditure program through the second half of 2012.
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