Eland Oil & Gas starts producing oil from new Nigeria well
Source - SMW
Eland Oil & Gas said a new well in Nigeria was being converted to a producer and was expected to flow in line with previous company guidance.
The Opuama-11 well flowed at 1,610 barrels of oil per day during testing and was expected to produce between 4,000 to 6,000 bopd.
As previously announced, the Opuama-7 sidetrack well experienced increased water-cut.
A production log was run in order to confirm water containment options ahead of a future planned re-completion on the D1000 reservoir, the well's primary target.
Upon completion of Opuama-11 drilling operations, the rig mobilised to the Gbetiokun field where it will re-enter the Gbetiokun-1 well and drill the Gbetiokun-3 well.
'We are pleased with what is expected to be another highly successful infill well on the Opuama field and we look forward to further record field production levels once testing has been completed,' chief executive George Maxwell said.
'At current oil prices, these record levels of production from Opuama field are leading to significant cashflows for all of OML 40's stakeholders.'
At 2:43pm: (LON:ELA) Eland Oil Gas PLC share price was +2.95p at 99.95p