Aurora Oil & Gas Limited announce its expected 2014 production of 10.6-11.7mmboe (gross) and 7.8-8.6mmboe (net), with an average daily production range of 29,000-32,000 boe/d (gross), or 21,500-23,500 boe/d (net). This represents a forecast 47% increase over the mid-point of Aurora's guided 2013 production.
To achieve this growth, Aurora's board of directors has approved a 2014 capital expenditure program of US$455-495mm, which represents a decrease on expected 2013 capital expenditures. The capital program anticipates US$47-49mm for operated drilling and completions, US$368-402mm for non-operated drilling and completions, and US$40-44mm for facilities, land, and other expenditures. The 2014 capital expenditure program includes budgeted expenditure for wells under drilling or completion operations at year end 2013. The 2014 capital expenditure program will be funded from existing cash, operating cash flows and availability under Aurora's existing bank credit facility.