Brief: Panoro Energy: Recent Net Production Reaches Record Levels Of Up To 11,000 Bopd

Panoro Energy ASA

03/08/2023 06:35

Aug 3 (Reuters) - Panoro Energy ASA  PENR.OL :
    * RECENT NET PRODUCTION REACHES RECORD LEVELS OF UP TO
11,000 BOPD
    * PROVIDES AN UPDATE IN ADVANCE OF ITS HALF YEAR 2023
RESULTS
    * RECENT GROUP PRODUCTION HAS REACHED LEVELS OF UP TO 11,000
BOPD,
FOLLOWING THIRD HIBISCUS WELL AND START UP OF GAS LIFT
COMPRESSOR
    * WORKING INTEREST PRODUCTION IS EXPECTED TO INCREASE TO IN
EXCESS
OF 13,000 BOPD WHEN ALL SIX NEW HIBISCUS RUCHE PHASE I WELLS ARE
ONSTREAM
    * WORKING INTEREST PRODUCTION AVERAGED 8,093 BOPD IN Q2 AND
7,211
BOPD IN FIRST SIX MONTHS
    * REVENUE FROM OIL SALES IN FIRST SIX MONTHS STOOD AT USD
63.0
MILLION, WITH AN AVERAGE REALISED PRICE OF $75.42 PER BARREL
    * MANAGEMENT EXPECTS MAJORITY OF ITS 2023 CRUDE OIL LIFTINGS
TO
OCCUR IN SECOND HALF OF YEAR
    * TOTAL CRUDE LIFTINGS IN 2023 ARE EXPECTED TO BE
APPROXIMATELY 3
MILLION BARRELS

Source text for Eikon:  ID:nWkr6h1D0k 
Further company coverage:  PENR.OL 

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