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Prospex Energy PLC said Friday the Viura-1B well in northern Spain has met its planned plateau rate after gas production resumed at the well on Friday last week. The Europe-focused gas and power project investor said the well reached the planned plateau rate of 180,000 normal cubic metres per day. Prospex said this will be the ongoing plateau production rate. The company had announced on Monday that the Viura field operator, HEYCO Energia Iberia SL, brought the well back into production after it shut in April following the detection of a leak in the completion tubing. Prospex owns 7.2% of the Viura field through its ownership of 7.5% of HEI. Prospex is accruing 15% of the production income from the Viura gas field until payback of its initial capital investment, expected to be approximately £8 million, and the accrued 10% per annum interest thereon. Chief Executive Mark Routh said: ‘I am very pleased to confirm that the flow rate of natural gas from the Viura-1B well in the Viura field has achieved the planned plateau production rate within a week of the recommencement of production last Friday. The confirmation of the performance of this reservoir is especially pleasing after the recent frustrating one-off event which delayed the resumption of production after the successful workover in July. ‘This confirms our view that Viura is a prolific gas field and was an excellent addition to our portfolio and that it is likely to continue production and cash flows long into the future.’ Shares in Prospex declined 2.5% to 4.29 pence on Friday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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