First Quarter 2024 Production and Operations Update
· Production for the Quarter was 6.92 mm therms of natural gas and 11,717 bbls of condensate
· Estimated revenues of £4.86m for the Quarter
Gas volumes produced and sold from the Saltfleetby Field equalled 6.92 mm therms in aggregate for the months of January, February and March 2024 combined, compared to 7.35 mm therms produced and sold in the fourth quarter 2023. First quarter production equates to an average of 2.30 mm therms per month (2.45 mm therms per month in the fourth quarter 2023), as against hedged volumes of 1.5 mm therms per month for the quarter. Operational efficiency was 92% for the first quarter (87% operational efficiency for the fourth quarter 2023). Gas condensate (liquid) production averaged 128 bbl/day.
The quarter included a planned major service on the ‘A’ compressor whilst a top-end major service was also carried out on the ‘A’ engine as a parallel activity. A planned intervention was also made on the ‘B’ engine with all cylinder heads on the engine changed out as part of an engine reliability improvement plan. Dual compressor operation was reinstated on the 20th March.
At the Brockham Oil Field, site work has commenced in preparation for rig arrival early in Q2 to reinstate production from the Brockham 2Y well.
END
For further information on the Company, please visit www.angusenergy.co.uk or contact:
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
Richard Herbert
Chief Executive Director Via Flagstaff
