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Enwell Energy production up 1.5% in Q1 as natural field decline offsets output from new wells
StockMarketWire.com
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Oil and gas company Enwell Energy said production volumes in the first quarter of 2021 increased by approximately 1.5% year-on-year as new production volumes from wells in the SV field, Ukraine were offset by natural field decline.
At the MEX-GOL and SV fields, the SV-25 appraisal well was completed, and is currently producing at approximately 413 boepd in aggregate.
In February 2021, the SV-29 well was spudded, and has a target depth of 5,450 metres. 'Drilling operations are scheduled to be completed by the end of Q3 2021, and, subject to successful testing, production hook-up is scheduled for Q4 2021,' the company said.
'We are pleased to report another strong operational quarter, with robust production volumes, and the successful completion of the SV-25 well, which was drilled safely and ahead of schedule,' it added.
At 8:32am: (LON:ENW) share price was 0p at 22p
Story provided by StockMarketWire.com
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