Exploration & Production
MissLime Player Parallel Ups Exit Guidance to 7,300 BOE/d
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Parallel Energy Trust has reported a production update and increased its 2013 exit rate production guidance.
During the third quarter of 2013, the Trust's daily production averaged approximately 7,100 boe/day based on field data, which results in a record nine month daily production rate of approximately 7,100 boe/day. Parallel's production in the third quarter was negatively impacted by a severe electrical storm which interrupted power to the Trust's operations, as well as a short-term outage at one of the third-party facilities which processes a significant portion of the Trust's production. Absent these interruptions, Parallel estimates its production for the third quarter would have been consistent with its second quarter production rate of 7,459 boe/day.
Parallel's current production…
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