Oilgas24

Home > Gas > Production > Burren buys rig, as production creeps upward

Burren buys rig, as production creeps upward

Published Jul 16, 2007

Burren Energy agrees to waive pre-emption right on the recent asset acquisition by Eni in Congo

Independent U.K. Central Asia explorer Burren Energy is producing nearly 4,000 more barrels of oil per day than in 2006, as water injection boosts reservoirs from Turmenistan to the Congo and forcing the “purchase” of an oil rig.

Burren averaged 38,000 barrels of oil equivalent per day in first-half, 2007, up 14 percent, while its average realized oil price was $57.80 per barrel.

In the Congo, Eni sold Burren 5.5 percent and an exploration well is planned at Dongou in the conflict-torn, Western Europe sized central African country.

Meanwhile, at East Kanayis, in Egypt, and at Assam, Turkmenistan, 2 wells are planned. The Central Asian country accounted for half of Burren’s new production, and the oil company owns all seven of its drilling and workover rigs.

 


Add a Comment

Please be civil.

( Use Markdown for formatting.)

( )

From todays news:


Dec 1, 2008 + 1 GMT
t