Angus Energy PLC has released its Fourth Quarter 2023 Production and Operations Update, revealing that gas volumes produced and sold from the Saltfleetby Field totaled 7.35 mm therms for the months of October, November, and December 2023. This figure represents a slight decrease from the third quarter's production of 7.9 mm therms. The company estimates revenues of £7.2m for the quarter. Operational efficiency for the fourth quarter was reported at 87%, with gas condensate production averaging 130 bbl/day.
The quarter included a planned shutdown for maintenance and remedial work on one of the two compressor engines on the Saltfleetby site, which lasted for 6 days in October. The construction of the B07T permanent flowline was completed during the quarter, with commissioning finishing on the 3rd of November. Additionally, well performance and optimization trials were carried out during the quarter following the commissioning of the B07T permanent flowline.
Angus Energy's Chief Executive Officer, Richard Herbert, approved the information contained in the announcement. The company is focused on becoming a leading player in the aggregation, production, and storage of energy, with a portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields. Angus Energy operates all fields in which it has an interest.
The announcement also contains important notices regarding forward-looking statements and an explanation of terminology related to gas volume and energy measurement. The company emphasizes that the information provided is not a forecast, projection, or estimate of its future financial performance.