(Alliance News) - Mosman Oil & Gas Ltd on Wednesday celebrated improved production at the Stanley project in the US, after recent work revamping the site.
Mosman is an oil exploration, development, and production company with projects in the US and Australia.
Following a period of "optimisation", production at the project has increased to 90 barrels of oil per day. According to Mosman, this was primarily achieved with production from Stanley 4 and 5.
The increase follows recent work at the site, including the installation of surface and downhole equipment to boost production with jet pumps. Furthermore, the jet pump surface facility has been changed to use natural gas direct drive engines rather than diesel or natural gas fired electrical power generation and electric pumps.
Looking ahead, Mosman Oil expects to re-complete Stanley 3 in another zone, adding to production once the process finishes later this month.
"It is encouraging to have achieved this improved production. The next phase is the recompletion at Stanley 3 which is anticipated to result in additional production," said Chief Executive Officer Andy Carroll.
Mosman Oil & Gas shares were trading 4.4% higher at 0.012 pence each in London on Wednesday morning.
By Holly Beveridge, Alliance News reporter
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Mosman Oil Gas (MSMN)