ARC Resources Ltd. reported consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, funds from operations were CAD 295.8 million or CAD 0.93 per basic and diluted share against CAD 201.2 million or CAD 0.65 per basic and diluted share year ago. Net income was CAD 147.4 million or CAD 0.47 per basic and diluted share against CAD 93.3 million or CAD 0.30 per basic and diluted share year ago. Operating income was CAD 116.9 million or CAD 0.37 per basic and diluted share against CAD 53.9 million or CAD 0.17 per basic and diluted share year ago. Capital expenditures, before land and net property acquisitions were CAD 236.1 million against CAD 170.7 million year ago. Net debt outstanding was CAD 1,061.9 million against CAD 883.7 million year ago.

For the six months, funds from operations were CAD 588.1 million or CAD 1.86 per basic and diluted share against CAD 403.6 million or CAD 1.30 per basic and diluted share year ago. Net income was CAD 176.8 million or CAD 0.56 per basic and diluted share against CAD 140.2 million or CAD 0.45 per basic and diluted share year ago. Operating income was CAD 101.6 million or CAD 0.33 per basic and diluted share against CAD 77.4 million or CAD 0.27 per basic and diluted share year ago. Capital expenditures, before land and net property acquisitions were CAD 478.1 million against CAD 401.9 million year ago.

For the quarter, total production was 110,165 boe per day against 93,436 boe per day year ago. The company's second quarter oil and liquids production of 43,958 barrels per day was 20% higher than the second quarter of 2013.

For the six months, Total production was 107,944 boe per day against 94,449 boe per day year ago. For the first half liquids production was a record 44,032 barrels per day, 19% higher than the first half of 2013.

For the full year of 2014, the company's board approved an increase to the 2014 capital program from CAD 915 million to CAD 975 million.

For the full year, the comply expects total production of 110,000 - 114,000 boe per day. The company now expects to produce NGLs in the range of 3,800 - 4,100 bbl per day against 3,700 - 4,000 bbl per day forecasted earlier.

The company declared monthly dividends of CAD 0.10 per share for August 2014 through October 2014. Payable on September 15, 2014, October 15, 2014 and November 17, 2014 to shareholders of record on August 29, 2014, September 30, 2014 and October 31, 2014 and ex-dividend date is August 27, 2014, September 26, 2014 and October 29, 2014 respectively. The Board of Directors has confirmed a dividend for July 2014, and has conditionally declared a monthly dividend for August 2014 through October 2014.

The company announced the appointment of Kristen Bibby to the position of Vice President, Finance, effective August 11, 2014. Kris' appointment fills the vacancy created with the promotion of Van Dafoe to Senior Vice President and Chief Financial Officer in February 2014. Kris is a Chartered Accountant with over 17 years of finance and accounting experience, including seven years as Chief Financial Officer for two international oil gas companies.