Lightstream Resources Ltd. (Toronto: LTS.TO) has updated its second quarter operations.

Production in June averaged approximately 45,000 barrels of oil equivalent per day (boepd) (82% light oil and liquids weighted), which contributed to second quarter average production of approximately 46,000 boepd. This represents a 19% increase over second quarter 2012 average production of 38,700 boepd, due to the company's continuous execution program, maturing production base and mitigated impacts of spring break-up. As anticipated, drilling and completions activity slowed down during the quarter; however, production was largely uninterrupted. This can be attributed to milder weather and infrastructure investments resulting in more wells being tied in to facilities.

Approximately 1,000 boepd of production currently remains restricted in the Brazeau region of the company's Cardium business unit due to third party processing capacity limitations, which Lightsream anticipates will be resolved in the third quarter of 2013.

In the Cardium business unit, the use of pad drilling allowed the company to continue completion activities through spring break-up, and Lightstream drilled two wells and placed 17 wells on production in the quarter, with the majority of the activity occurring in the West Pembina area of the business unit. Year-to-date the company has drilled 25 wells and brought 34 wells on production in the Cardium, and the company had 5 wells waiting to be brought on production at the end of the second quarter.

In southeast Saskatchewan, Lightstream experienced minimal downtime during the quarter and continued to execute our program. The company drilled three wells in the second quarter and placed two wells on production, bringing its year-to-date totals to 25 wells drilled and 24 wells brought on production. Lightstream also continued to be active in its new resource play area, particularly in the Swan Hills region where the company drilled two wells and brought one well on production in the quarter. So far this year, Lightstream has drilled nine wells on new plays and had four wells waiting to be brought on production at the end of the quarter.

Lightstream will release full financial and operational results for the second quarter after markets close on August 7, 2013.