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Mart Resources provides April 2015 production update


Published May 22, 2015
Mart Resources, Inc.

Mart Resources, Inc.and its co-venturers, Midwestern Oil and Gas Company Limited ("Midwestern", Operator of the Umusadege field) and SunTrust Oil Company Limited are providing the following updates on Umusadege field production for April 2015 and other operations.

April 2015 Aggregate Production Update

Umusadege field production during April 2015 averaged approximately 8,900 bopd resulting in total production of approximately 266,970 bbls for the month. Aggregate calculated Umusadege field downtime during April 2015 was approximately 10.0 days (based upon days with production of more than 10,000 bopd being considered to have no downtime). There were shutdowns of both the NAOC and Trans Forcados export pipelines during April 2015 due to operational interruptions for general pipeline repairs and maintenance and due to vandalism, but ongoing production from the Umusadege field was managed by the ability of the field operator to alternate production between the two pipelines. The average field production based on producing days was approximately 13,500 bopd in April 2015.

The combined net delivery of oil from the Umusadege field through the new Umugini pipeline and NAOC export pipeline totaled approximately 240,980 bbls in April 2015 before estimated pipeline and export facility losses, and approximately 201,280 bbls after deduction of combined pipeline and export facility losses estimated for April 2015 by Mart.

Tags: Mart Resources




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