Business
Infrastructure and production at Shoats Creek
Infrastructure and production at Shoats Creek.
About this update from Red Rock Resources Plc
[{"type":"text","content":"\n \nRNS Number : 7177N Red Rock Resources plc 02 February 2016 \n\nRed Rock Resources Plc\n \nCompletion of Infrastructure and Start of Production at Shoats Creek\n \n2 February 2016\n \nRed Rock Resources Plc (\"Red Rock\" or the \"Company\"), the natural resource investment and development company, has been informed as follows by the operator (Northcote Energy Limited) of the completion of infrastructure upgrades at the Shoats Creek Field in Louisiana and the start of production operations at the LM20 well in which Red Rock has a 20% working interest.\n \nFurther to the announcements of 20 January 2016 and 27 November 2015, infrastructure work now completed at Shoats Creek includes:\n \n· Installation of 5,400 barrel oil and water storage tanks with room for incremental additions as production grows in the course of drilling additional wells\n \n· Installation of high and low pressure separators, heating, flare stacks and other necessary production equipment \n \n· Installation of associated pump and pipeline work \n \nAt the LM#20 well, production operations are now commencing and the production rate will be reported in due course after rates have stabilised.\nRed Rock Chairman Andrew Bell states: \"The news from the operator that production is now beginning represents a milestone for Red Rock as we can now become for the first time an oil producer, and from a low cost onshore well. We look forward now to the drilling of LM21 and LM22 to increase production from the field. This achievement brings what we hope will be a growing revenue stream to Red Rock as a more diversified natural resource Company.\" \nRed Rock has a 20% Working Interest and a 14.4% Net Revenue Interest in the LM20 well and in the planned LM21 and LM22 wells.\n \nFor Further Information Contact: \nAndrew Bell 0207 747 9990 Chairman Red Rock Resources Plc\nScott Kaintz 0207 747 9990 &n...