LONDON (Alliance News) - Amerisur Resources PLC on Tuesday said its production in the fourth quarter was hurt by completion issues at two wells in the Platanillo field, Colombia.
For the fourth quarter to the end of December, the company's total production from the Platanillo and Mariposa fields was 423,386 barrels of oil, with an average daily production of 4,602 barrels of oil per day.
"Platanillo production was impacted by completion issues in Platanillo 22 and 8, which occurred during interventions. These wells have now been evaluated and are currently being treated to return them to production," Amerisur explained.
Further well interventions are planned at Platanillo 24, 21, 25ST1, 17 and 7 as part of the "normal maintenance and optimization operations" the company added.
In December 2017 alone, the company's production was 215,481 barrels of oil, while in January 2018, Amerisur produced 211,950 barrels of oil.
Furthermore, as a result of lower oil prices in the fourth quarter just ended, Amerisur decided not to make sales from Platanillo during December. It decided to store the produced barrels for sale at higher oil prices in the first quarter of 2019.
With regards to the CPO-5 field, Colombia, in which Amerisur holds a 30% stake, the company said preliminary results of an independent reserves report indicated gross proved plus provable reserves of 22.7 million barrels of oil at Indico-1X and 2.9 million barrels of oil at Mariposa.
The firm is planning to drill at least four wells on the basis of these results.
Amerisur shares were trading up 1.5% at 18.64 pence each.