(1) Tourmaline estimate of the potential of the formation on a regional basis based upon geological interpretation and exploration experience in the overall Charlie Lake Play.
Tourmaline remains on track to achieve the 80,000 boepd average production level for 2013, the original full year estimate of 75,000 boepd was increased in February of this year. Phase 1 of the ongoing Spirit River expansion was completed during the second half of June, adding approximately 2,000 boepd. Phase 2 of the Spirit River expansion will bring an additional 4,000 boepd on-stream in October, bringing total production for the complex to approximately 10,000 boepd. Start-up of the NEBC Doe plant has been delayed until July 15, and as a result did not provide any incremental production volumes in June. This has reduced second quarter volumes by approximately 2,000 boepd utilizing the originally planned June 15 start-up date. This delay coupled with ongoing, unplanned downtime in several areas in both May and June, has reduced estimated average second quarter production volumes to between 70,500 and 71,000 boepd. The Company reached the 75,000 boepd production milestone in April; and daily production capability remained well in excess of that level throughout the quarter. Unscheduled production down-time averaged approximately 4,100 boepd during May and June, approximately triple the normal daily average. This downtime included several unscheduled facility disruptions at Spectra West Doe B.C. and Spectra Gordondale, at the Berland plant in Smoky-Horse, at the third party Musreau facility, and at a third party facility in Wild River that the Company was utilizing to process excess gas volumes. The Tourmaline Doe B.C. plant start-up in July however, will bring total daily production volumes to in excess of 85,000 boepd.
A third quarter average production level of between 85,000 and 87,000 boepd is currently forecast, and a fourth quarter 2013 production average in excess of 90,000 boepd is now expected. All 13 rigs are now currently active; 6-7 frac spreads will be employed during the second half of the year for completions operations.
The increased second half 2013 drilling program is expected to provide additional incremental volumes late in 2013 that are not included in the current production outlook. The Company will assess the impact of the additional EP activities on full year 2013 guidance later in the year, when tie-in timing is finalized. The Company currently expects 2014 production to average between 108,000 and 115,000 boepd.
Tourmaline successfully expanded its credit facility to $750 million with the Company's banking syndicate in May, providing significant additional financial flexibility. Cash flow(2) for 2013 is expected to increase to $642.8 million, an improvement of over 100% compared to 2012. The Company will continue to maintain a debt to cash flow ratio of 1.0 times or less, forecasting net debt(3) at the end of 2013 of approximately $300 million after the effect of the first quarter 2013 equity financing and the recent property disposition. The 2014 EP Capital Program of $800 million has been approved by the Tourmaline Board.
The Company has made modest additions to its natural gas hedge position with 103 mmcfpd fixed at approximately $3.79 Canadian/mcf for 2013, and 43 mmcfpd fixed at approximately $3.91 Canadian/mcf for 2014. The Company also has fixed price oil hedges for 2013 on approximately 1,400 bbls/d, at $100 Canadian/bbl, with approximately 1,100 bbls/d, hedged using various instruments at an average of $90.00 Canadian/bbl for 2014.
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