2nd Feb 2024 10:20
Parkmead Group PLC - Netherlands and UK-focused gas explorer - Says production from the LDS-01 well has consistently produced at average rates of close to 5,000 barrels of oil per day gross and upwards of 370 boepd net in the final quarter of 2023. Parkmead's overall average net production over the same period from all the Dutch gas assets continues to exceed 430 boepd, it adds. This is the highest level of gas output since April 2020.
Chair Tom Cross says: "We are delighted to confirm that the LDS-01 gas well has been brought on stream, on schedule and under budget, and that the early production data has demonstrated further reserves potential.Parkmead's Dutch gas assets continue to yield successful discoveries and enhanced production from some of the most prolific onshore fields in the Netherlands."
Current stock price: 17.25 pence, up 13%
12-month change: down 62%
By Sabrina Penty, Alliance News reporter
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