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United Oil & Gas boost quarterly production to slightly above guidance rate
StockMarketWire.com
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Oil company United Oil & Gas reported a rise quarterly production, underpinned by recently acquired assets in Egypt.
Output for the three months through March had risen to 2,520 barrels of oil equivalent per day, up 12% compared to the fourth quarter of 2020.
United Oil & Gas said the quarterly production rate was slightly above previously provided guidance for the 2021 first of of between 2,300 and 2,500 boepd.
All of the company's production for the period was from the Kuwait Energy Egypt-operated Abu Sennan Licence in Egypt, in which it held a 22% working interest.
Story provided by StockMarketWire.com
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