Yahoo Finance Production report for February 2024
Oslo, 20 March 2024
| Jan 2024 | Feb 2024 | ||
Operated | Boepd (1) | Bopd (2) | Boepd (1) | Bopd (2) |
Colombia | 572 | 374 | 728 | 526 |
Argentina | 1,846 | 336 | 1,419 | 323 |
Total operated | 2,418 | 710 | 2,147 | 850 |
Total equity | 1,181 | 394 | 1,091 | 480 |
(1) Barrels of oil equivalents per day (includes liquid and gas)
(2) Barrels of oil per day (represents only liquids)
[boepd]: barrels of oil equivalents per day (includes liquid and gas)
[Operated]: 100% field production operated by Interoil
[Equity] : Interoil’s share production net of royalties.
Comments
Interoil’s total daily average operated production in February declined by around 271 boepd compared with January. The reduction is mainly coming from fields in Argentina whereas Colombia increased its operated production.
In Argentina, the operated production was reduced by 427 boepd, of which delay in supply of spare parts for gas compressors reduced Santa Cruz output by 425 boepd. Initiatives have been taken to import the necessary spare parts. The reopening of shut-in wells in Santa Cruz is still being carried as per its pulling program. In Mata Magallanes Oeste (MMO), the monthly average production reached 48 boepd, a slight reduction from January due to downhole chemical treatments being carried out in some producing wells.
In Colombia, production in Puli C declined by 6 boepd related to natural depletion from the producing wells in Mana, Rio Opia and Ambrosia. On the other hand, the Vikingo well produced well since its opening after performing a downhole intervention during the first weeks of this year. The Vikingo oil production increased 162 bopd leading to an average oil production of 224 bopd during the month of February.
The exploration campaign in Altair and LLA-47 blocks remains on hold pending approval from local authorities. Conversations with the ANH concerning the formal approval is still on hold waiting for the new authorities to take position.
Additional information
Further details about production performance are shown in the document attached. The two graphs and tables show operated and equity production of oil and gas respectively and by country. Operated production is defined as total output from fields operated by Interoil. Equity production is Interoil’s share of production net of royalties.
This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.
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Please direct any further questions to ir@interoil.no
Interoil Exploration and Production ASA is a Norwegian based exploration and production company - listed on the Oslo Stock Exchange with focus on Latin America. The Company is operator and license holder of several production and exploration assets in Colombia and Argentina with headquarter in Oslo.
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