United Oil & Gas PLC - London-based oil and gas company with projects in Egypt, Italy and the UK - First quarter production averages 1,567 barrels of oil equivalent per day in 2022. In the first quarter of 2021, United's net working interest production totalled 2,520 boepd. First half guidance for 2022 is between 1,500 to 1,650 boepd. All of United's production for the period was from its 22% non-operating interest in the Abu Sennan licence in Egypt. Says the first well in its 2022 drilling campaign started production at the end of March. The second well, ASV-1X, has commenced drilling.
United will release its full-year results on April 26.
Current stock price: 2.69 pence
12-month change: down 47%
By Heather Rydings; heatherrydings@alliancenews.com
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United Oil&gas (UOG)