19th Nov 2013 08:20
LONDON (Alliance News) - SOCO International Tuesday said its production guidance for the year remains on track for 16,000 barrels of oil equivalent per day.
The major oil-and-gas exploration-and-production company said production net to the company's working interest averaged 15,616 barrels of oil equivalent per day in the year to date through to October 2013, with the vast majority coming from the company's Te Giac Trang field in the South China Sea.
SOCO said its net cash and liquid investments as at November 15 was approximately USD200 million and it has agreed a further gas sales agreement for the Te Giac Trang site.
The company also said its TGT-10XST1 exploration well in the Te Giac Trang field tested over 27,600 barrels of oil equivalent per day during the previous three months.
SOCO International shares were up 0.1% to 400.52 pence in early trading Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Soco International