Rockhopper Eyes $7 Million in Revenue from Guendalina Gas Field in 2016
November 10 2015 - 3:50AM
Dow Jones News
By Alex MacDonald
LONDON--Oil and gas explorer Rockhopper Exploration PLC (RKH.LN)
said Tuesday it expects $7 million in revenue from Italy's
Guendalina gas field next year following the successful completion
of a side track well.
The U.K.-listed firm, which has assets in the Falkland Islands
and also the Mediterranean, said Guendalina's operator, Eni SpA
(E), completed the side track well GU2-Dir A and encountered two
deeper gas levels that hadn't been previously envisioned. Eni owns
80% of the field while Rockhopper owns a 20% stake.
Total production from the field is now stabilized around 440,000
standard cubic metres a day of gas, 88,000 cubic meters a day of
580 barrels of oil equivalent of which pertains to Rockhopper. This
represents a near tripling in output from the last reported rate of
about 200 barrels of oil equivalent a day.
Rockhopper also said it expects to start production on its fully
owned onshore gas development Civita by year-end.
Write to Alex MacDonald at alex.macdonald@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
November 10, 2015 03:35 ET (08:35 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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