Trinity Exploration & Production boosts annual output by 14%
Source - SMW
Trinity Exploration & Production said it had boosted its annual production volumes by 14%, as it brought more wells on stream in Trinidad and Tobago.
Output for the year through December rose to 2,871 barrels of oil per day, after rising 17% in the fourth quarter compared to the third to 3,205 bopd.
'The company's successful drilling programme during the fourth quarter means that it fulfilled its pre-stated greater than 10% per annum production growth target in 2018 and expects similar growth in 2019,' the company said.
'The fully funded onshore drilling programme will continue, but given recent oil price volatility the timing and scale of the drilling programme and hence production volume growth will be determined with a view to optimising profitability.'
At 9:06am: (LON:TRIN) Trinity Exploration Production share price was +0.65p at 16p