Baytex Energy Now Expects H2 Capital Expenditures Of $440 Mln - $465 Mln

(RTTNews) - Baytex Energy Corp. (BTE_UN.TO, BTE) Monday said for the second half of 2014, it now expects capital expenditures for exploration and development activities in the range of $440 million - $465 million, which in turn is expected to generate an average production rate of 88,000 to 90,000 boe/d.

The firm said it continues to expect second quarter production of 60,000 boe/d.

Commenting on the announcement, James Bowzer, President and Chief Executive, said: "We are pleased to provide our initial guidance following the closing of the Aurora acquisition. Over 90 percent of our spending in the second half of this year will be directed to our three key oil resource plays which provide some of the highest rates of return in North America. We are well positioned to continue to deliver on our growth and income model."