Planned shutdowns impact June production, Atlantic Petroleum says

Atlantic Petroleum has announced that during the month of June, Atlantic Petroleum produced a net total of 38,000 barrels of oil equivalents (boe) from the Chestnut, Ettrick and Blackbird fields in the UK North Sea.

Atlantic Petroleum expects production boost in August

The average daily production was 1,267 boe per day net to the Company.

Production for the month was impacted by the planned annual shutdown of the Ettrick & Blackbird fields which started on the 23rd June and is expected to last around 45 days. This will also affect rates during July. Production was also impacted by the temporary production well issue announced in May, which will be rectified in July.

“We expect production to have a significant boost in August when the Blackbird PB2 well comes on-stream and the shutdown is completed,” the company said in the release.

The company has also reported that a further announcement regarding the Blackbird PB2 well flow rates will be made later in the month.

Production for first half of 2014 was 319,000 boe. The average daily production for the first half of 2014 was 1,762 boe per day net to the Company. Cash and cash equivalents at the end of the first half of the year was DKK 195MM (GBP 21MM). Annual production guidance remains within previously announced estimates. (1,650 to 1,900 boepd).


Press Release, July 01, 2014