The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksNighthawk Energy Regulatory News (HAWK)

  • There is currently no data for HAWK

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Production Update

8 Oct 2013 07:00

RNS Number : 9274P
Nighthawk Energy plc
08 October 2013
 



 

 8 October 2013

NIGHTHAWK ENERGY PLC

("Nighthawk" or "the Company")

 

Production Update

Third Quarter average oil production of 1,528 barrels per day

 

Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update on production at its 100% controlled and operated Smoky Hill and Jolly Ranch projects in the Denver-Julesburg Basin, Colorado.

 

Highlights

 

· Average gross oil production in September 2013 of 1,408 barrels per day ("bbls/day")

 

· Average gross oil production in third quarter 2013 of 1,528 bbls/day, a 142% uplift on the second quarter 2013

 

· Five wells now in production at Arikaree Creek oil-field

 

· Third quarter 2013 net revenue exceeds US$10 million

 

Production

 

Average gross oil production in the third quarter of 2013 was 1,528 bbls/day compared to an average of 631 bbls/day in the second quarter. The increase was driven by the successful drilling program at Arikaree Creek with a full quarter of production from the Big Sky 4-11 and Taos 1-10 wells and a first contribution from the Silverton 16-10 and Snowbird 9-15 wells which came on-stream in July 2013.

 

As previously announced, production in September 2013 was affected by planned maintenance work and data collection at all five Arikaree Creek producing wells. As a result, average gross oil production in September 2013 was 1,408 bbls/day. All wells are now back on-line and the data gathered during the scheduled tests of pressure and fluid levels is being analysed. The production rate of Steamboat Hansen 8-10, the Arikaree Creek discovery well, increased during the third quarter. This well has now been in production for over ten months and has produced over 90,000 barrels of oil with no water production.

 

The Company continues to benefit from strong oil prices, and generated net revenues of over US$10 million in the third quarter of 2013.

 

Gross Oil Production 2013

 

Month

Total Production

(Barrels of Oil)

Average Production

(bbls/day)

Quarter 1 2013

28,175

313

Quarter 2 2013

 

April

12,067

402

May

14,498

468

June

30,869

1,029

Q2 Total

57,434

631

First Half 2013

85,609

473

Quarter 3 2013

 

July

46,883

1,512

August

51,482

1,661

Sept

42,232

1,408

Q3 Total

140,597

1,528

 

 

Stephen Gutteridge, Chairman of Nighthawk, commented:

 

"The third quarter of 2013 was a very productive period for Nighthawk, with successful drilling and record production at Arikaree Creek. We are now in good shape to press on with our next drilling campaign which we expect to be underway later this month."

 

 

Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 33 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.

 

- Ends-

 

Enquiries:

 

Nighthawk Energy plc

Stephen Gutteridge, Chairman

Richard Swindells, Chief Financial Officer

 

 

020 3582 1350

 

Westhouse Securities Limited

Richard Baty

Ian Napier

020 7601 6100

richard.baty@westhousesecurities.com

ian.napier@westhousesecurities.com

FTI Consulting

Ben Brewerton

Ed Westropp

 

 

020 7831 3113

ben.brewerton@fticonsulting.com

edward.westropp@fticonsulting.com

 

 

 

 

 

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCFMMGGKNRGFZM
Date   Source Headline
19th Jul 20187:00 amRNSUpdate on Chapter 11 cases
29th Jun 20187:00 amRNSChapter 11 update and resignation of Nomad
26th Jun 20187:00 amRNSUpdate on Chapter 11 cases
11th Jun 20187:00 amRNSCancellation of GM and Chapter 11 Update
31st May 20183:06 pmRNSNotice of General Meeting
16th May 20187:00 amRNSChapter 11 update
14th May 20185:48 pmRNSUpdate on Chapter 11 proceedings
10th May 20187:00 amRNSRequisition of general meeting
4th May 20185:17 pmRNSDirectorate Change
1st May 20187:30 amRNSSuspension - Nighthawk Energy Plc
1st May 20187:00 amRNSNotice of Chapter 11 and Suspension
20th Apr 20187:00 amRNSUpdate on CBA Loan
11th Apr 20187:00 amRNSProduction update
23rd Mar 20187:00 amRNSProduction update
28th Feb 201810:22 amRNSSenior management appointment
20th Feb 20187:00 amRNSProduction Update
14th Feb 20187:00 amRNSSenior management change
25th Jan 20187:00 amRNSAppointment of US Investment Bank
12th Jan 20187:00 amRNSProduction Update
5th Jan 20185:19 pmRNSHolding(s) in Company
28th Dec 20177:00 amRNSAmendment to Existing Bank Agreement
28th Nov 20178:30 amRNSProduction update
22nd Nov 20177:00 amRNSResource Update
7th Nov 20177:00 amRNSDirectorate Change
1st Nov 20177:00 amRNSFarmout Option Agreement
25th Oct 20177:00 amRNSCompany Update
3rd Oct 20177:00 amRNSReserves Based Loan Covenant Compliance
26th Sep 20177:00 amRNSHalf-year Report
14th Sep 20177:00 amRNSCompany Update
30th Aug 20177:00 amRNSAmendment of Loan Notes
3rd Aug 20177:00 amRNSCompany Presentation and Operational Update
3rd Jul 20177:00 amRNSBanking Agreement
23rd Jun 201710:36 amRNSProduction Update and Result of AGM
31st May 20179:36 amRNSReserves Based Loan Covenant Compliance
26th May 20174:03 pmRNSFinal Results
2nd May 20177:00 amRNSReserves Based Loan Covenant Compliance
26th Apr 20177:00 amRNSProduction update
5th Apr 20174:16 pmRNSResults of General Meeting
15th Mar 20177:00 amRNSNotice of GM - Rule 9 Waiver
15th Feb 20177:00 amRNSUpdate re Operations and Year-end Reserves
26th Jan 20177:00 amRNSCorrection - Production Update
24th Jan 20177:00 amRNSProduction Update
18th Jan 20174:35 pmRNSPrice Monitoring Extension
12th Jan 20177:00 amRNSOperations Update
3rd Jan 20177:00 amRNSCompany Update
21st Dec 20164:35 pmRNSPrice Monitoring Extension
16th Dec 20167:00 amRNSMonarch JDA Settlement Agreement
12th Dec 20164:35 pmRNSPrice Monitoring Extension
7th Dec 20164:35 pmRNSPrice Monitoring Extension
2nd Dec 20164:35 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.