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[posting]61835589[/posting]Ergebisse 3. Q: schreibt zur Zeit noch ein paar Millionen Miese und muss nach wie vor einen hochverzinsten Batzen Schulden zurückzahlen. Die Richtung stimmt aber. ShaMaran Third Quarter 2019 Financial and Operating Results November 5, 2019 Download PDF VANCOUVER, Nov. 5, 2019 /CNW/ -ShaMaran Petroleum Corp. ("ShaMaran" or the "Company") (TSX Venture: SNM) (Nasdaq First North Growth Market: SNM) today released its financial and operating results and related management discussion and analysis for the three and nine months ended September 30, 2019. All currency amounts indicated as "$" in this news release are expressed in United States dollars. View PDF Version. "In the third quarter and period subsequent Atrush delivered significant production growth ahead of schedule that will increase future cash flow. Atrush reached a milestone, producing over 1 million barrels of oil per month, met its 2019 exit-rate production target and commissioned a new production facility," said ShaMaran President and CEO Dr. Adel Chaouch. "Expanding Atrush production and increasing our working interest in Atrush to 27.6%, after consolidating ownership from four to three partners in May 2019, provides a strong and stable foundation to fund organic growth and act on new opportunities as they present themselves." THIRD QUARTER 2019 HIGHLIGHTS AND SIGNIFICANT SUBSEQUENT EVENTS Achieved significant production milestone: During July 2019, the Atrush monthly production exceeded one million barrels of oil for the first time since oil production commenced. At the date of this news release over 20 million barrels of oil have been exported from the Atrush field. Reached exit-rate production ahead of schedule: Current production rate is over 45,000 bopd, meeting exit-rate target of 45,000 barrels of oil per day ("bopd") to 50,000 bopd two months ahead of schedule. Annual average production delivered as planned: Atrush's production guidance for 2019 is 30,000 to 35,000 bopd. Average production for Q3 2019 was 33,167 bopd. Subsequent to third quarter, October 2019 average production was 38,040 bopd. Average daily oil production at Q3 has increased from 20,366 bopd in 2018 to 29,274 bopd in 2019. Compared to the year previous, average daily oil production increased 53% for the quarter (33,167 bopd vs. 21,675 bopd) and 44% for the nine months ended September 30 (29,274 bopd vs. 20,344 bopd). Increased well capacity through to remainder of year: Atrush well capacity has been increased by 21,000 bopd during 2019, of which 10,500 bopd came online in Q3 through the completion of the Chiya Khere-12 and Chiya Khere-13 wells. Increased processing capacity in lockstep with production growth: Atrush processing capacity has been increased by 20,000 bopd to 50,000 bopd, meeting guidance. An Early Production Facility at the Chamanke-E drilling pad was commissioned on schedule in Q3, accounting for 10,000 bopd of the new processing capacity. Continued to self-fund Atrush development with stable cash inflows: The Company received $19.1 million in Q3 2019 for its entitlement share of the Atrush Production Sharing Contract profit oil and cost oil for April through to June 2019 oil sales. The Company received $2.8 million in Q3 2019 of Atrush Exploration Costs receivable on April through to June 2019 oil sales. The Company received $5.4 million in Q3 2019 in payments of principal plus interest on the Atrush Development Cost Loan and the Atrush Feeder Pipeline Cost loans for invoices from July to September 2019. Subsequent to the balance sheet date the remaining amounts have been collected and both loans have now been fully repaid. |
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| aus der Diskussion: | ShaMaran Petroleum Corp. - Oil Exploration and Development in Iraqi-Kurdistan |
| Autor (Datum des Eintrages): | texas2 (08.11.19 17:17:09) |
| Beitrag: | 259 von 403 (ID:61875123) |
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