RE: RNS22 Jan 2019 07:17
Re production - looks like that website was guff ...
Q4 Production and OBA throughput
Total production in the fourth quarter from the Platanillo and the Mariposa fields was 423,386 BO, with an average daily production of 4,602 BOPD. 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. Further well interventions are planned on 24, 21, 25ST1, 17 and 7 as part of the normal maintenance and optimization operations in the Platanillo field. Current group production is 5,426 BOPD which includes the Company's share of the production from Indico-1X.
OBA throughput in Q4 was 236,833 BO with average daily throughput of 2,574 BOPD. This was lower during the fourth quarter owing to the phasing of 2019 Government royalty barrels ("Royalty Barrels"). Royalty Barrels are collected at the Platanillo wellhead and transported by road. The Government elected to take delivery of its 2019 Royalty Barrels disproportionally in Q4, leading to lower utilisation of the OBA in Q4.
As a result of lower oil prices in the fourth quarter, the Company decided not to make sales from Platanillo in the month of December, and instead chose to store produced barrels for sale at higher oil prices in the first quarter of 2019.
The Company is awaiting the approval of the Ministry of Mines and Energy in order to begin purchase and shipping of third party crude via OBA. That approval is expected in H1 2019.