Prospex Energy plc’s joint venture has retrieved testing equipment left inside the Viura-1B well and restarted gas production in Northern Spain. CASHFLOW Partner and operator Heyco Energía Iberia S.L. resumed production on 17 October and three days later reached 120,000 cubic metres per day. The JV aims for 180,000 cmd plateau production this week. “The […]
Tag: Prospex Energy plc
Prospex faces further production delays at Viura
Prospex Energy plc said that equipment left inside the tubing of the Viura-1 well during testing had further delayed resumption of production from the gas field in northern Spain. SAFETY In August, operator Heyco Energia Iberia S.L. completed a well workover, but a “failure in the pressure control equipment” needed safe and controlled cutting of […]
Prospex’s Viura-1B production restart delayed
Prospex Energy plc said that technical and equipment issues had delayed the restart of production from the Viura-1B well, which completed successful flow tests, in northern Spain. FLOW RATES Problems initially began in April when operator Heyco Energia Iberia SL shut in the well following a leak in the completion tubing, which was replaced in […]
Prospex completes fundraise at £1.2m
Prospex Energy plc has raised a total of approximately £1.2 million from a WRAP retail offer and last week’s placing and subscription. TVRs Proceeds will go towards workover of the Viura-1B well in northern Spain. The company will issue 3,044,638 new ordinary shares at the issue price of 4.5 pence per share in relation to […]
Prospex raises £1m for Viura-1B workover
Prospex Energy plc has raised £1,031,650 via a placing and subscription of 22,925,555 new ordinary shares at a 4.4% discounted issue price of 4.5 pence per share. RETAIL OFFER Directors and persons discharging managerial duties also participated for a total of 1,444,444 new ordinary shares. Non-executive chairman Bill Smith and chief executive officer Mark Routh […]
Prospex JV halts Viura production due to leak
Prospex Energy plc said that gas production was temporarily halted in mid-April at the new onshore Viura-1B well because of a leak in the completion tubing. WORKOVERS Partner and operator Heyco Energia Iberia S.L. needs to obtain equipment, including mobilising a suitable drill rig, for a workover to resume production from the north Spanish field […]