Brief: Shamaran Petroleum Corp Reports Q1 Revenues Of $19.8 Mln

ShaMaran Petroleum

11/05/2020 06:08

May 11 (Reuters) - ShaMaran Petroleum Corp  SNM.V :
    * SHAMARAN FIRST QUARTER 2020 FINANCIAL AND OPERATING
RESULTS
    * TOTAL OIL EXPORTED FROM ATRUSH FIELD REACHED 25 MILLION
BARRELS
ON FEBRUARY 5, 2020
    * RECORD HIGH ATRUSH DAILY OIL PRODUCTION OF 54,055 BOPD WAS
RECORDED ON MARCH 27, 2020
    * QTRLY REVENUE OF $19.8 MILLION VERSUS $12.1 MILLION
    * ATRUSH FIELD GROSS AVERAGE DAILY PRODUCTION IN 2020 IS
EXPECTED
TO RANGE FROM 44,000 BOPD TO 50,000 BOPD
    * SHAMARAN PETROLEUM -2020 PRODUCTION DEPEND ON WELL,
FACILITY AND
EXPORT PIPELINE UPTIMES,POSSIBLE OPEC+ CUTS IF APPLICABLE TO
KURDISTAN PRODUCERS
    * SHAMARAN PETROLEUM - AVERAGE LIFTING COSTS IN 2020
ESTIMATED TO
RANGE TO $4.50 PER BARREL TO $5.10 PER BARREL
    * SHAMARAN PETROLEUM -ATRUSH GROSS CAPITAL EXPENDITURES FOR
2020
ESTIMATED AT $28 MILLION ($8 MILLION NET TO SHAMARAN) FOR
COMMENCED FACILITY IMPROVEMENTS

Source text for Eikon:  ID:nCNWvnjYKa 
Further company coverage:  SNM.V 

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