14th Sep 2017 07:00
14 September 2017
NIGHTHAWK ENERGY PLC
("Nighthawk" or "the Company")
Company Update
Nighthawk, the US focused oil development and production company (AIM: HAWK and OTCQX: NHEGY), announces an update to current production levels.
Production Update
Gross and net* production, in barrels, for the first seven months of 2016 is summarised below.
Monthly | Daily Average | ||||||||||
Gross | Net | Gross | Net | ||||||||
2017 | 2016 | 2017 | 2016 | 2017 | 2016 | 2017 | 2016 | ||||
January | 43,599 | 43,961 | 30,543 | 36,017 | 1,406 | 1,417 | 985 | 1,162 | |||
February | 36,051 | 40,378 | 24,786 | 33,053 | 1,288 | 1,407 | 885 | 1,153 | |||
March | 38,794 | 42,720 | 28,381 | 34,942 | 1,251 | 1,314 | 916 | 1,078 | |||
April | 34,374 | 40,704 | 25,640 | 33,319 | 1,146 | 1,357 | 855 | 1,113 | |||
May | 35,391 | 40,780 | 26,875 | 33,410 | 1,142 | 1,302 | 867 | 1,068 | |||
June | 33,443 | 40,248 | 25,925 | 32,916 | 1,115 | 1,356 | 864 | 1,112 | |||
July | 32,710 | 43,045 | 25,429 | 35,162 | 1,055 | 1,382 | 820 | 1,133 | |||
YTD | 254,363 | 291,836 | 187,578 | 238,819 | 1,200 | 1,370 | 885 | 1,121 | |||
*Net production is based upon Nighthawk's Net Revenue Interest of approximately 82% save for the Monarch 10-15 well where HAWK has a 16% working interest.
Chuck Wilson, Chief Operating Officer of Nighthawk, noted: "The effects of the Arikaree Creek Water Flood Pilot Project field, along with the efforts from the production operations team, have kept the natural decline from production lower than historically experienced. "
Interim Results
The Company expects to announce its interim results for the six months ended 30 June 2017 during the week commencing 25 September 2017.
Enquiries:
Nighthawk Energy plc | |
Rick McCullough, Chairman | +1 303 407 9600 |
Kurtis Hooley, Chief Financial Officer | +44 (0) 20 3582 1350 |
Stockdale Securities Limited | +44 (0) 20 7601 6100 |
Richard Johnson | |
David Coaten |
Chuck Wilson, Chief Operating Officer of Nighthawk, who has over 34 years of experience in the oil and gas industry and meets the criteria of qualified persons under the AIM guidance note for mining and oil and gas companies, has reviewed and approved the technical information contained in this announcement.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU 596/2014).
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