US-headquartered United Oil & Gas (UOG) announced production updates as the company’s average output reached 2,937 barrels of oil equivalent per day (boepd) in the Q2 of 2021, making the average of the H1 of the year 2,730 boepd, the company said in a statement.
“In particular, our Egyptian assets continue to perform beyond expectations, with production averaging 2,730 boepd; consistent with full year guidance range of between 2,500 to 2,700 boepd. Further, through our H1 drilling program, we have not only been able to increase production, but also identify new growth opportunities within the license”, Brian Larkin, United Chief Executive Officer, said.
“Based on this success, we are delighted to be drilling a further exploration well on the license shortly and are actively working with Joint Venture Partners to agree the optimum long-term strategy for the development of the license’s potential”, he added.
This comes as the company had a successful drilling campaign at the Abu Sennan License.
Accordingly, the ASH-3 Development Well came on stream with gross rate production exceeding 4,000 boepd on March 5, while the ASD1-X – Commercial discovery achieve test gross rate production at more than 1,200 bopd.
Meanwhile, workover of ASH-1ST2 was completed, boosting the well’s production from 200 bopd to over 1,200 bopd.