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DENVER - Oil and natural gas exploration and production company St. Mary Land & Exploration Co. said Friday it raised its output estimates for 2008 to reflect increased drilling.
| SM | 19.88 |  -1.32 |
The company raised its full-year production estimate to a range of 108.5 billion cubic feet equivalent to 112.5 billion cubic feet equivalent. That is up from the range of 107 billion cubic feet equivalent to 111 billion cubic feet equivalent the company announced on Jan. 31.
The new figure reflects a planned investment increase for east Texas, south Louisiana, the Arkoma basin an area that includes western Arkansas and eastern Oklahoma and parts of the Gulf of Mexico.
St. Mary also issued a second-quarter production estimate of 26 billion cubic feet equivalent to 27 billion cubic feet equivalent.
The company did not release revenue or earnings per share projections.
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