United Oil & Gas PLC (UOG) announced that quarterly production for the first quarter (Q1) of 2022 averaged 1,567 boe/d.
This includes 1,267 bbl/d oil and 300 boe/d gas in line with H1 2022 guidance of 1,500-1,650 bbl/d.
The ASD-2 development well, the first well in the drilling campaign for 2022, started producing toward the end of March
Drilling has begun on the ASV-1X exploration well, being the second of five wells planned for the 2022 drilling campaign
During the period, UOG’s production came exclusively from its 22% operating interest in the Abu Sennan license in Egypt, which is operated by Kuwait Energy Egypt (KEE). As development, appraisal, and exploration activities continue, this data will vary from quarter to quarter.
ASV-1X exploration drilling began on 14 April and aims to recover mean recoverable resources estimated by United at c.2.6 mmbbls gross.
“The primary targets are sandstone Abu Roash “C” (ARC) reservoirs, similar to those currently in production at the Al Jahraa field. The target for this well is in a fault-bounded structure in the east of the licence. This is the largest undrilled ARC structure on the Abu Sennan licence. The ARC is currently in production from a number of fields (Al Jahraa, ASZ, ASX, ASD, El Salmiya) along a proven trend in the north of the licence area,” the company said.
Success in this reservoir at ASV-1X would extend the play to the south and east, potentially de-risking additional prospects in this area for future drilling targets. The well will also penetrate the Kharita reservoir as a stacked secondary target. The well is expected to be drilled and completed in approximately two months, added the company’s statement.
On 26 April 2022, United will release its results for the full year ending 31 December 2021.