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Erin Energy sees Nigerian offshore well doubling company production

Published 06/12/2017, 02:57 PM
© Reuters.  Erin Energy sees Nigerian offshore well doubling company production
ERINQ
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  • Erin Energy (ERN -8.6%) says it expects to double its oil production after completing a pair of wells on the Oyo field offshore Nigeria.
  • ERN says it plans to begin drilling operations for the Oyo-9 development well next month with completion by year-end, pursuant to its contract with Pacific Drilling.
  • ERN says Oyo-9 has the potential to increase production at the Oyo field by 6K-7K bbl/day of oil, which would double the company’s current output; coinciding with the completion of Oyo-9, ERN also will tie back the Oyo-7 well to the 40K bbl/day Armada Perdana FPSO, adding 1,200 bbl/day of production.
  • ERN says it also is discussing a possible extension to the contract with Pacific Drilling for the Pacific Bora drillship, depending on availability of funds, to drill 1-2 wells.
  • Now read: Martin Midstream Beats Guidance And Yields 11%


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