Bonavista Energy Corporation provided capital spending and production guidance for 2013. The company's 2013 net capital spending plans remain consistent with prior guidance at $423 million; however, it has incorporated certain budget adjustments to accommodate approximately $20 million of development expenditures allocated to the Deep Basin properties. The company expects its 2013 capital program will result in average production of between 73,500 and 74,500 boe per day representing a modest increase over prior guidance and resulting in 6-7% growth over 2012.

The company announced that its Board of Directors has approved a reduction in the monthly dividend from $0.12 per share to $0.07 per share, beginning with the payment due February 15, 2013 to common shareholders of record on January 31, 2013, with an ex-dividend date of January 29, 2013.