Angus Energy PLC has released its First Quarter 2024 Production and Operations Update. The company reported a production of 6.92 mm therms of natural gas and 11,717 bbls of condensate, with estimated revenues of £4.86m for the quarter. Gas volumes produced and sold from the Saltfleetby Field totaled 6.92 mm therms in aggregate for the months of January, February, and March 2024 combined, compared to 7.35 mm therms produced and sold in the fourth quarter of 2023. The first quarter production equated to an average of 2.30 mm therms per month, with operational efficiency at 92%. Gas condensate production averaged 128 bbl/day.
The quarter included a planned major service on the 'A' compressor and a top-end major service on the 'A' engine. Additionally, a planned intervention was made on the 'B' engine with all cylinder heads on the engine changed out as part of an engine reliability improvement plan. At the Brockham Oil Field, site work has commenced in preparation for rig arrival early in Q2 to reinstate production from the Brockham 2Y well.
The company's forward-looking statements include matters that are not historical facts and involve risks and uncertainties. Beaumont Cornish Limited is acting as the nominated adviser to the company in relation to the matters referred to in the announcement.
Angus Energy PLC's First Quarter 2024 Production and Operations Update provides a comprehensive overview of the company's recent activities, including production figures, operational efficiency, and future plans for the Brockham Oil Field. The report also includes forward-looking statements and disclaimers, emphasizing the company's commitment to transparency and compliance with regulatory requirements.