BW Energy: Q1 2021 trading update
April 30, 2021 01:30 ET | Source: BW Energy Limited BW Energy Limited
update
BW Energy today provides an update on the operation and development of the Dussafu Marin license in Gabon. The Company will publish its financial report for the first quarter on Thursday, 20 May 2021.
Gross production from the Tortue field averaged approximately 13,600 barrels of oil per day in the first quarter of 2021, amounting to a total gross production of 1.22 million barrels of oil for the period.
BW Energy completed one lifting in the quarter and realised an average price of USD 66.7 per barrel. Production cost (excluding royalties) was approximately USD 23 per barrel. This includes approximately USD 1.0 million of additional costs related to the continued handling of the COVID-19 pandemic through the period.
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BW Energy has provided an update on the drilling of the Hibiscus Extension appraisal well (DHIBM-2) in the Dussafu Marin offshore licence in Gabon.
The primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus field, discovered in 2019. Initial findings indicate that the Gamba is water-bearing, instead of containing hydrocarbons.
The Borr Norve Jack-up continues drilling operations to intersect the secondary targets for the appraisal well in the deeper Dentale Formation. The data acquired from the DHIBM-2 well will later be analysed and integrated into the larger Dussafu model to further refine the extensive exploration prospect inventory.
encountered water in Gamba reservoir
BW Energy today provides an update on the drilling of the Hibiscus Extension appraisal well (DHIBM-2) in the Dussafu Marin license in Gabon.
The primary objective of the well was to test the northern extension of the Gamba Sandstone reservoir of the Hibiscus field, discovered in 2019. Initial findings indicate that the Gamba is water-bearing, instead of containing hydrocarbons.
The Borr Norve Jack-up continues drilling operations to intersect the secondary targets for the appraisal well in the deeper Dentale Formation. The data acquired from the DHIBM-2 well will later be analysed and integrated into the larger Dussafu model to further refine the extensive exploration prospect inventory.