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Bellatrix Focuses on A&D in Q2; Underspends Guidance
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Bellatrix Exploration reported its second quarter 2016 results.
The Company curtailed capital activity in the second quarter, and instead focused on a number of optimization initiatives, including the completion of 65 plunger lift installations and 15 wellbore cleanouts. These optimization efforts effectively attenuated the Company's corporate decline rate, resulting in production volumes being maintained at 38,000 boe/d without drilling a single well in the second quarter of 2016. First half 2016 production averaged 38,234 boe/d, exceeding first half guidance of 38,000 boe/d despite having underspent forecast capital expenditures in both the first and second quarters of 2016 relative to plan.
Additionally, during the second quarter and subsequent to June 30, 2016, Bellatrix completed…
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