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Baytex Announces Increase in Heavy Oil Production for Q1 2012
May. 10, 2012 10:51AM PST
Oil and Gas InvestingBaytex Energy Corp. (TSX:BTE,NYSE:BTE) announced that its operating and financial results for the first quarter of 2012 include an increase in heavy oil production.
Baytex Energy Corp. (TSX:BTE,NYSE:BTE) announced that its operating and financial results for the first quarter of 2012 include an increase in heavy oil production.
As quoted in the press release:
In the first quarter of 2012, heavy oil production averaged 38,353 bbl/d, an increase of 21% over the first quarter of 2011 and 1% over the fourth quarter of 2011. During the first quarter of 2012, we drilled 50 (44.3 net) oil wells, 14 (14.0 net) stratigraphic test and service wells and one (1.0 net) dry and abandoned well on our heavy oil properties with a success rate of 98%.
Click here to read the full Baytex Energy Corp. (TSX:BTE,NYSE:BTE) press release.