Scandoil  

President Energy reports encouraging prospects for Louisiana operations


Published Jan 9, 2015
President Energy-2

2014 was another solid year for President's Louisiana operations with an estimated operating profit, subject to audit, of approximately US$5m, with an average production level of 225 boepd and a 2014 exit rate of 230 boepd. The effect of lower oil prices is being mitigated by reduced operating expenses, the continued utilisation of tax losses and new producing wells.

Despite the lower oil price environment, prospects for 2015 are encouraging. The resilience of our operations is largely due to the present and forthcoming contributions from two existing non-operated carried producing wells, one at East White Lake field and the other at East Lake Verret, which are expected to off-set the decrease in revenue due to lower oil prices.

Tags: President Energy




Advertisment:

Add a Comment to this Article

Please be civil. Job and promotion will not be added into the comment page.

(Use Markdown for formatting.)

This question helps prevent spam:

+ Larger Font | + Smaller Font
Top Stories

 

 

 

 


 


RSS

RSS
Newsletter
Newsletter
Mobile News
Mobile news

Computer
Our news on
your website


Facebook
Facebook
Twitter
Twitter

Contact
Contact
Tips
Do you have any
tips to us
Stats

 

sitemap xml