Enwell Energy PLC - London-based oil and gas exploration and production company, with several gas and condensate operations in Ukraine - In the first quarter of 2023, total aggregate production is 2,787 barrels of oil equivalent per day, down from 3,164 boepd a year earlier. Gas production is 11.6 million cubic feet per day, down from 13.8MMcf/d. Condensate production is down to 413 barrels per day from 511 bbl/d. Liquefied petroleum gas is up to 434 bbl/d from 286 bb/d. Says production volumes were lower due to natural field decline, with the exception of LPG recoveries, which improved significantly following the completion of upgrade works to the gas processing facilities at the MEX-GOL and SV fields in mid-2022. Also says: "The ongoing war in Ukraine continues to cause disruption to operations at the company's fields, where issues with the supply of equipment and fuel and interruptions to the supply of electricity are affecting field activity."
Current stock price: 17.64 pence, down 1.3%
12-month change: down 24%
By Greg Rosenvinge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Enwell Energy (ENW)