23 Mar 2018 07:00
23 March 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 month ended 31 January 2018.
Production Update
Gross and net* production, in barrels, for the 3 months ended 31 January 2018 is summarised below.
Monthly | Daily Average | ||||||||||
Gross | Net | Gross | Net | ||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||
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 | |||
2018 | 2017 | 2018 | 2017 | 2018 | 2017 | 2018 | 2017 | ||||
January | 27,975 | 43,599 | 22,356 | 30,543 | 902 | 1,406 | 721 | 985 | |||
*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.
During the period from November 2017 to January 2018 several wells required non-routine workovers to be performed, which partially affected production. These workovers have now been completed.
Enquiries:
Nighthawk Energy plc | |
Rick McCullough, Chairman | +1 303 407 9600 |
Chris Kohler, Interim 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).