20 Feb 2018 07:00
20 February 2018
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Company Update
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to production for the year ended 31 December 2017.
Production Update
Gross and net* production, in barrels, for the 12 months ended 31 December 2017 is summarised below.
Monthly | Daily Average | ||||||||||
Gross | Net | Gross | Net | ||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||
January | 43,599 | 43,961 | 30,543 | 36,017 | 1,406 | 1,417 | 985 | 1,162 | |||
February | 36,051 | 40,378 | 24,786 | 33,053 | 1,288 | 1,407 | 885 | 1,153 | |||
March | 38,794 | 42,720 | 28,381 | 34,942 | 1,251 | 1,314 | 916 | 1,078 | |||
April | 34,374 | 40,704 | 25,640 | 33,319 | 1,146 | 1,357 | 855 | 1,113 | |||
May | 35,391 | 40,780 | 26,875 | 33,410 | 1,142 | 1,302 | 867 | 1,068 | |||
June | 33,443 | 40,248 | 25,925 | 32,916 | 1,115 | 1,356 | 864 | 1,112 | |||
July | 32,710 | 43,045 | 25,429 | 35,162 | 1,055 | 1,382 | 820 | 1,133 | |||
August | 32,597 | 42,759 | 25,411 | 34,885 | 1,052 | 1,379 | 820 | 1,125 | |||
September | 30,495 | 38,551 | 23,875 | 31,459 | 1,017 | 1,285 | 796 | 1,049 | |||
October | 31,381 | 39,671 | 24,670 | 32,246 | 1,012 | 1,280 | 796 | 1,040 | |||
November | 27,159 | 33,317 | 21,358 | 26,990 | 905 | 1,111 | 712 | 900 | |||
December | 29,366 | 35,985 | 23,257 | 28,885 | 947 | 1,161 | 750 | 932 | |||
YTD | 405,361 | 482,119 | 306,149 | 393,284 | 1,111 | 1,317 | 839 | 1,075 | |||
*Net production is based upon Nighthawk's Net Revenue Interest of approximately 82% save for the Monarch 10-15 well where HAWK has a 16% working interest.
The production decrease for November 2017 was partially due to several wells requiring non-routine workovers to be performed. The Company performed additional workovers in December 2017 and January 2018.
Enquiries:
Nighthawk Energy plc | |
Rick McCullough, Chairman | +1 303 407 9600 |
Kurtis Hooley, Chief Financial Officer | +44 (0) 20 3582 1350 |
Stockdale Securities Limited | +44 (0) 20 7601 6100 |
Richard Johnson | |
Ed Thomas |
Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 34 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).