Business
February 2020 Production & Operational Summary
February 2020 Production & Operational Summary.
About this update from Caspian Sunrise Plc
[{"type":"text","content":"\n \n \n RNS Number : 7676F\n Caspian Sunrise plc\n 11 March 2020\n \n \n \n \n Caspian Sunrise PLC\n \n (\"Caspian Sunrise\" or the \"Company\")\n \n February 2020 Production Numbers & an Operational Summary\n \n The Board of Caspian Sunrise is pleased to update the market with February 2020 production numbers and an Operational Summary.\n \n February 2020 oil production figures\n \n The total number of barrels produced in February 2020, was 38,626 (January 2020, 44,169) at a daily rate of 1,332 bopd (January 2020, 1,425).\n \n The decline in daily production resulted principally from the impact of pausing production at Deep Well A5.\n \n In February 2020, 64% of oil sold was at export prices and 36% at domestic prices (January 2020, 66% & 34%).\n \n The export price achieved in February 2020, before adjustment for subsequent minor variations, was $50.5 per barrel (January 2020, $59.6 per barrel) and the domestic price was $17.82 per barrel (January 2020, $18.75 per barrel).\n \n Operational summary\n \n At BNG, work continues to clear Deep Well A5 to allow a resumption of production. Work also continues to prepare for the acid treatments at Deep Wells A6, 801 & A8.\n \n Also at the MJF structure at BNG we are pleased to confirm New Well 150, has reached Total Depth of 2,500 meters, wireline logging has been completed, and cementing operations are ongoing in preparation for perforating.\n \n In addition, New Well 153, which has a planned Total Depth of 2,500 meters, has reached a depth of 1,000 meters without incident.\n \n At 3A Best work continues in preparation for a H1 spudding of a New Well also to be drilled to a depth of 2,500 meters as required under our revised 3A Best work programme.\n \n Comments:\n \n Clive Carver, Executive Chairman said\n \n \"We continue to pursue our twin track strategy of seeking to increase the production volumes at our MJF structure with low risk drilling of shallow wells within the proven perimeter of the structure and where production may be sold by reference to world rather than domestic prices together with seeking success with our highly prospective deep wells at BNG.\n \n We note the recent sharp oil price movements, which will inevitably have an impact on our gr...