PetroBakken expects strong 2nd half growth

[dan_s]

"Consistent with previous years, the second half of the year will be our period of highest activity and capital intensity. Our capital program has been slightly delayed by approximately three weeks, and we are well positioned to catch up prior to the end of the year. We expect to have 15 drilling rigs operating for most of the second half of 2012, including 7 rigs in the Cardium drilling 57 net wells, 6 rigs in the Bakken drilling 75 net wells, 1 rig in southeastern Saskatchewan drilling 27 net wells, and 1 rig drilling 4 net wells in our emerging plays in Alberta. Our balance sheet liquidity position remains exceptionally strong with approximately $1.1 billion of available capacity under our facility at June 30, 2012. With approximately 75% of our planned wells for 2012 yet to be drilled, we anticipate continued production growth during the second half of the year and reiterate our 2012 exit rate production guidance for 2012 of 52,000 to 56,000 boepd."

2nd quarter production was slighly below my forecast due to weather related delays. Full operational update below.

http://finance.yahoo.com/news/petrobakk ... 00850.html