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Newport Reports on Beach's Increased Production & Drilling Success
Newport Reports on Beach's Increased Production & Drilling Success Newport Rep...
About this update from Newport Exploration Ltd
[{"type":"text","content":"\n\n\n\nNewport Reports on Beach's Increased Production & Drilling Success\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nNewport Reports on Beach's Increased Production & Drilling Success\nCanada NewsWire\nVANCOUVER, May 1, 2019\n\n\n\nTrading Symbol: NWX (TSX-V)\n VANCOUVER, May 1, 2019 /CNW/ - Newport Exploration Ltd (\"Newport\" or \"the Company\") is pleased to provide an update on production and drilling activities on permits and licences in the Cooper Basin, Australia over which the Company has a 2.5% gross overriding royalty (\"GOR\"). This information was released by Beach Energy Ltd (\"Beach\") (ASX: BPT) in their Quarterly Report for the period ended 31 March 2019, dated 30th April 2019, and in a news release dated 1st May 2019.    \n\n \n \n\n \nPRODUCTION\nBeach report that ex PEL 91 oil production increased by 12% to 1,089 kboe. An artificial lift was added at producing well Bauer-30 which increased production from ~300 bopd on free flow to 1,995 bopd on pump. A milestone was also reached with the production of the 20 millionth barrel of oil from the Bauer Field.  \nBeach report that Western Flank gas and gas liquids production was down 23% to 394 kboe due to a combination of planned maintenance work on CO2 trains at the Moomba gas plant and downtime for expansion of liquids handling capacity at the Middleton facility. The upgrade is in recognition of the high liquids content of Beach's western flank gas and will allow the Middleton facility to peak at 40 MMscfd of raw gas. \nBeach report a 14% increase in realized oil price and a 6% increase in realized gas/ethane price for the quarter. \nDRILLING\nBeach completed a six-well campaign in the Hanson Field (ex PEL 91) which comprised four vertical oil development wells and two vertical oil appraisal wells.  Both appraisal wells were cased and suspended as future producers and confirmed the extension to the south of the field where Hanson-7 development well was drilled.  Three of the four development wells were cased and suspended as future producers, with two brought on ...