3rd Feb 2016 09:32
LONDON (Alliance News) - Andes Energia PLC Wednesday said production from its assets in Argentina has continued to increase and is currently running at a rate of over 2,000 barrels a day.
The oil and gas company said net production from its licences in Argentina during December was 2,036 barrels of oil per day, coming from the Chachahuen, Chanares Herrados, Puesto Pozo Cercado, Vega Grande, La Brea and El Manzano blocks.
Last month, Andes Energia reported a rise in production from the Chachauen block after a series of new wells were drilled in the second half of 2015. Production from that block, excluding the other fields in the country, has been running at around 1,469 barrels per day since June.
Andes Energia also has some production from Colombia through its 26% stake in InterOil. Average net production to InterOil in December from two licences in the country stood at 1,251 barrels of oil equivalent per day.
On the basis of 100% of InterOil's net production in the month, Andes Energia's total average daily production in December averaged 3,287 barrels of oil equivalent per day, which compares to 3,226 barrels per day in the first six months of 2015.
Andes Energia shares were trading up 1.0% to 17.67 pence per share on Wednesday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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