Block Energy plc reported a slight dip in production and marginal increase in revenue for the fourth quarter of operations at its oil and gas assets in Georgia. FINANCES The company’s operations report for the three months ended 31 December 2022 showed revenue of US$1,840,400 (Q3: $1,833,000). Block Energy sold 21.3 Mbbls of oil (Q3: 17.9 Mbbls) for $1,691,400 (Q3: $1,614,000), at a weighted […]
Tag: production
i3 Energy increases quarterly production
i3 energy plc reported an increase in production as it progressed its interests in Canada and the UK North Sea. PRODUCTION The company’s Q2 2022 operational and financial report showed average production of 19,502 boepd, a 116% increase compared with Q2 2021 and an 8% increase from Q1 2022. i3 recorded the increase despite production […]
Serica starts production from Rhum 3
Serica Energy plc announced the start of gas production from the Rhum R3 well around 16 years after it was originally drilled in the UK Northern North Sea. CHALLENGES The company has more than 80% natural gas production and holds a 50% working interest in the Rhum field. First production was achieved on 23 August […]
Condor acquires $6.5m SAG mill
Condor Gold plc is to buy a $6.5 million (£4.67m) complete new semi-autogenenuous mill (SAG mill) package for its La India gold project in Nicaragua. The junior miner has avoided a 12-month wait for the design and manufacture of the equipment by buying the SAG mill from Canadian company First Majestic Silver Corp. The La […]
Block restarts oil production at West Rustavi
Block Energy plc has restarted production from WR-38Z and WR-16aZ wells at West Rustavi oil field in Georgia. TIE BACK Oil and gas flowed through its new in-field flowline to its early production facility (EPF) in the West Rustavi field at the WR-16aZ wellsite. Gas is separated in the EPF from the crude oil before […]
UKCS production losses fall 25% as efficiency rises
The UK Continental Shelf (UKCS) last year saw an improved production efficiency for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target. REGIONS Figures from the 2019 Production Efficiency Report by the Oil and Gas Authority (OGA) show an increase of five percentage points from 2018, with every […]