ALBERTA

Birchcliff Energy Ltd. logs net income of $2.7 million in third quarter

11/15/2012 01:15 EST | Updated 01/14/2013 05:12 EST
CALGARY - Birchcliff Energy Ltd. (TSX:BIR) says net income for the third quarter was $2.7 million, or two cents per common share.

That compares to $11.4 million in net income, or nine cents per common share, in the third quarter of 2011.

During the quarter, the Calgary company says production averaged 21,426 barrels of oil equivalent per day, a 21.4 per cent increase over the third quarter of 2011.

Current production is about 27,500 barrels per day, well ahead of the company’s previous guidance of 26,000 per day.

Birchcliff is an intermediate oil and natural gas company with operations concentrated within one core area, the Peace River Arch of Alberta.

MORE:Albertacp