July 2010 production
(Thomson Reuters ONE) -
Stavanger, 5 August 2010, Norwegian Energy Company ASA (Noreco, OSE:NOR):
Noreco's oil and gas production in July 2010 was 11,375 barrels of oil
equivalents (boe) per day. Net realized oil price was USD 73.75 per boe after
adjustments for oil put options, inventory and NGL and gas prices.
Total production from the Siri area in July was 15,950 boe/day (5,875 boe/day
net to Noreco). The SCB-1 well on the Siri field is still shut in pending repair
of a safety valve. The Siri field production was 4,125 boe/day (2,075 net). Nini
East delivered 7,625 boe/day (2,275 net). Nini produced 3,350 boe/day (1,000
net), while Cecilie production was 875 boe/day (525 net).
Brage produced 31,400 boe/day (3,775 net) in July. The first onset of water
production from the Bowmore segment was observed late in Q2, and this continued
in July. Moreover, gas injection was resumed in July. This is done to increase
oil production, however the short term impact is reduced gas available for sale.
Drilling of a new production well is ongoing with expected completion in the
second half of 2010.
South Arne production was 18,750 boe/day (1,225 net), somewhat down from June
due to postponed well interventions during the ongoing drilling of new
production wells. The new wells are expected to come on stream in October.
Net production to Noreco from the fields Enoch and Lulita was 200 and 300
boe/day respectively.
Production volumes and prices are preliminary and are subject to adjustments,
including final allocations between fields, quality adjustments and prices.
For further information, please contact:
Scott Kerr, CEO (+47 99 28 38 90)
Kjetil Bakken, Investor Relations Manager (+47 91 889 889)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1435929]
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Source: NORECO via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 05.08.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 38762
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