May 4, 2020 / 5:43 AM / a month ago

BRIEF-BW Energy Updates On Gabon Operations And COVID-19 Impact

May 4 (Reuters) - BW Energy Ltd:

* REG-BW ENERGY: OPERATIONAL UPDATE

* PROVIDES AN UPDATE ON OPERATION AND DEVELOPMENT OF OPERATED DUSSAFU MARIN LICENSE IN GABON AND IMPACT FROM COVID-19 PANDEMIC

* PRODUCTION ACTIVITIES IN GABON REMAIN UNINTERRUPTED

* GROSS PRODUCTION FROM TORTUE AVERAGED 11,485 BBLS/DAY FOR Q1 OF 2020 AND TOTAL GROSS PRODUCTION WAS 1,045,100 BBLS OF OIL

* DUSSAFU DAILY OPERATIONS CONTINUE TO PERFORM IN LINE WITH EXPECTATIONS WITH FOUR WELLS PRODUCING TO FPSO BW ADOLO AT A CURRENT RATE OF APPROXIMATELY 17,500 BBLS/DAY OIL PRODUCTION (GROSS)

* REVISED DEVELOPMENT PLANS AND OUTLOOK

* TOTAL DUSSAFU PRODUCTION FOR 2020 IS PROJECTED TO BE 15,000 - 16,500 BBLS/DAY (GROSS) BASED ON FOUR PRODUCING WELLS

* WHILE OPEX PER BARREL IS EXPECTED TO DECREASE TO APPROXIMATELY USD 16-18 PER BARREL, COMPARED TO USD 21 PER BARREL ON AVERAGE FOR 2019

* BW ENERGY IS CONTINUING PROCESS WITH A RESERVE-BASED LENDING (RBL) FACILITY WITH A SYNDICATE OF LEADING BANKS

* DUE TO COVID-19 SITUATION, IT IS NOW UNCERTAIN WHEN DTM-6H WELL CAN BE HOOKED UP FPSO BW ADOLO

* DRILLING OF DTM-6H WELL WAS COMPLETED IN MARCH AND FINAL INSTALLATION PROGRAM WAS PREVIOUSLY SCHEDULED FOR JUNE THIS YEAR

* SUSPENDED DRILLING OF PLANNED DTM-7H WELL AND SUBSEQUENT EXPLORATION WELL Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below