DNO International ASA - October 2009 Production...
("DNO" or "the Company")
DNO is today reporting October 2009 production. DNO's working
interest production was 12,712 bopd in October 2009 and DNO's net
entitlement production was 7,961 bopd.
PRODUCTION REPORT
Yemen production
DNO's working interest (WI) production from Yemen in October 2009 was
7,677 bopd and DNO's net entitlement production was 4,604 bopd.
Average realized oil price in October was 74 USD/bbl.
As previously reported the decline of oil production from the Yemen
fields is leveling out due to well optimization work and effect of
infill wells. The production rate from the Bayoot area in block 53 is
still increasing after the installation of down-hole pumps and the
gross production from Bayoot in October 2009 was 4,654 bopd.
Production from Yemen is reported as follows:
(Bopd) Q1 2009 Q2 2009 Q3 2009 Oct 2009 YTD-09
Gross production 18,511 19,057 18,535 19,924 18,755
DNO's working interest (WI) 7,925 7,878 7,542 7,677 7,770
DNO's net entitlement (NE) 5,936 5,788 4,987 4,604 5,469
Achieved oil price (USD/bbl) 43 59 69 74 58
The production figures include crude oil consumed in the operation of
the Company's production facilities, at an accumulated volume of 263
bopd in October 2009.
Iraq production
DNO's working interest (WI) production from Kurdistan in October 2009
was 5,036 bopd and DNO's net entitlement production was 3,357 bopd.
Production from Tawke is reported as follows:
(Bopd) Q1 2009 Q2 2009 Q3 2009 Oct 2009 YTD-09
Total gross production 3,179 9,929 41,157 5,595 16,938
DNO's working interest (WI) 2,861 8,937 37,036 5,036 15,244
DNO's net entitlement (NE) 1,908 5,965 24,796 3,357 10,197
The operation of the Company's production facilities did not consume
any crude oil in October 2009.
As previously reported DNO will now focus on local sales until a
future payment mechanism for crude exports is in place. Since export
halted 22 September all the production from Tawke is delivered to the
domestic market.
SUMMARY OF DRILLING ACTIVITIES
The Tasour-26 infill well was brought on-stream in November and the
well is currently producing 700 bopd (gross), as expected.
The planned sidetrack of Nabrajah-10 commenced in 21 November. The
well is targeting the Jurassic Shuqra formation dolomite, already
proved oil producing in the well Nabrajah-5.
Drilling of the Bayoot development well, Bayoot-7 commenced on 3
September. The drilling operations have been somewhat delayed due to
drilling problems. The well has proved oil shows and gas reading at
the top of basement, as expected. The well will be drilling a 900 m
section in the basement reservoir.
There are currently no drilling activities in Kurdistan.
DNO International ASA
4 December, 2009
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.