Nighthawk Energy plc Production Update (9274P)
October 08 2013 - 2:00AM
UK Regulatory
TIDMHAWK
RNS Number : 9274P
Nighthawk Energy plc
08 October 2013
8 October 2013
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Production Update
Third Quarter average oil production of 1,528 barrels per
day
Nighthawk, the US focused oil development and production company
(AIM: HAWK and OTCQX: NHEGY), announces an update on production at
its 100% controlled and operated Smoky Hill and Jolly Ranch
projects in the Denver-Julesburg Basin, Colorado.
Highlights
-- Average gross oil production in September 2013 of 1,408 barrels per day ("bbls/day")
-- Average gross oil production in third quarter 2013 of 1,528
bbls/day, a 142% uplift on the second quarter 2013
-- Five wells now in production at Arikaree Creek oil-field
-- Third quarter 2013 net revenue exceeds US$10 million
Production
Average gross oil production in the third quarter of 2013 was
1,528 bbls/day compared to an average of 631 bbls/day in the second
quarter. The increase was driven by the successful drilling program
at Arikaree Creek with a full quarter of production from the Big
Sky 4-11 and Taos 1-10 wells and a first contribution from the
Silverton 16-10 and Snowbird 9-15 wells which came on-stream in
July 2013.
As previously announced, production in September 2013 was
affected by planned maintenance work and data collection at all
five Arikaree Creek producing wells. As a result, average gross oil
production in September 2013 was 1,408 bbls/day. All wells are now
back on-line and the data gathered during the scheduled tests of
pressure and fluid levels is being analysed. The production rate of
Steamboat Hansen 8-10, the Arikaree Creek discovery well, increased
during the third quarter. This well has now been in production for
over ten months and has produced over 90,000 barrels of oil with no
water production.
The Company continues to benefit from strong oil prices, and
generated net revenues of over US$10 million in the third quarter
of 2013.
Gross Oil Production 2013
Month Total Production Average Production
(Barrels of (bbls/day)
Oil)
------------ ---------- ----------------- -------------------
Quarter 1
2013 28,175 313
------------------------ ----------------- -------------------
Quarter 2
2013 April 12,067 402
------------ ---------- ----------------- -------------------
May 14,498 468
----------------------- ----------------- -------------------
June 30,869 1,029
----------------------- ----------------- -------------------
Q2 Total 57,434 631
----------------------- ----------------- -------------------
First Half
2013 85,609 473
------------------------ ----------------- -------------------
Quarter 3
2013 July 46,883 1,512
------------ ---------- ----------------- -------------------
August 51,482 1,661
----------------------- ----------------- -------------------
Sept 42,232 1,408
----------------------- ----------------- -------------------
Q3 Total 140,597 1,528
----------------------- ----------------- -------------------
Stephen Gutteridge, Chairman of Nighthawk, commented:
"The third quarter of 2013 was a very productive period for
Nighthawk, with successful drilling and record production at
Arikaree Creek. We are now in good shape to press on with our next
drilling campaign which we expect to be underway later this
month."
Chuck Wilson, Chief Operating Officer of Nighthawk, who has over
33 years of experience in the oil and gas industry and meets the
criteria of qualified persons under the AIM guidance note for
mining and oil and gas companies, has reviewed and approved the
technical information contained in this announcement.
- Ends-
Enquiries:
Nighthawk Energy plc
Stephen Gutteridge, Chairman
Richard Swindells, Chief Financial
Officer 020 3582 1350
Westhouse Securities 020 7601 6100
Limited richard.baty@westhousesecurities.com
Richard Baty ian.napier@westhousesecurities.com
Ian Napier
FTI Consulting 020 7831 3113
Ben Brewerton ben.brewerton@fticonsulting.com
Ed Westropp edward.westropp@fticonsulting.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMMGGKNRGFZM
Nighthawk Energy (LSE:HAWK)
Historical Stock Chart
From Jul 2024 to Aug 2024
Nighthawk Energy (LSE:HAWK)
Historical Stock Chart
From Aug 2023 to Aug 2024