Dome Energy gives production update for February and drilling update from Illinois Basin

Dome Energy AB (publ) (herein after “Dome” and/or “the Company”) provides production update for February 2018, in which the Company produced 978 BOEPD before royalties, and drilling update from Illinois Basin.

  • Dome Energy produced 978 BOEPD before royalties in the month of February. Production is now excluding properties sold in Louisiana, as previously announced. Certain accruals have been made based on delayed revenue from non-operated assets.
  • Recently drilled Glaze 11-12 and 11-11 now on production, averaging 110 and 61 BOPD respectively over the last 14 days.
  • Additional two wells scheduled for fracture stimulation this week.
  • Currently drilling Walgrove 11-5, Dome’s fifth planned well.
  • Estimate six new wells on production by the end of April.

 

Paul Morch, CEO: “We are pleased to announce our February production, which is more or less flat from previous month, but adjusted due to our recently sold well in Louisiana. We will now start to see larger increase in production pattern, as new wells come online in the Illinois Basin. Our first two wells are showing much higher initial production than any of our other wells in the basin. The Glaze 11-12 started flowing more than 300 BOPD, and once we installed an electric pump, we have seen a stabile production above 100 BOPD. The well has produced close to 2,000 barrels of oil in the first 14 days of production, which is twice as much as budgeted. The Glaze 11-11 has also produced over budget and is still continuing a solid production of more than 60 BOPD. Their production will have a solid impact on our monthly production numbers, and with several more wells coming on shortly, we hope to establish a new level of base production for the company.”

For further information, please contact:
Paul Morch
Phone: +1 713 385 4104
E-mail: [email protected]

This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person March 22, 2018, 15:45 CET.