Proactive Investors - Run By Investors For Investors

Highlands Natural Resources reveals East Denver production rates

Highlands owns a 7.5% stake in the wells, which whilst being opened up slowly are already showing encouraging production flow rates
oil and gas operations
Oil flowed at 4,053 Bopd

Highlands Natural Resources PLC (LON:HNR) told investors that initial production rates from the East Denver project have measured 4,600 barrels oil equivalent per day, and they are expected to rise further.

The production pad – to which the Buckskin, Citadel, Grizzly, Hagar, Ouray, Thunder, Wildhorse and Powell wells are attached – is flowing oil at a combined rate of around 4,053 Bopd while combined gas rates were 3.28mln cubic feet per day.

READ: Highlands Natural Resources says gas sales underway at East Denver        

Highlands, which owns 7.5% of the project, highlighted that the project operator is advancing a conservative flowback plan which sees the wells being opened up slowly.

“As well as benefiting from the recently recovered oil prices, Highlands and its operating partner benefit from strong pricing for its gas, which is rich in liquids,” the company said in a statement.

“While the price for both the liquids and residual gas fluctuates, the effective sales price for the residual gas in the pipeline since the commencement of operations was $2.88 mcf.”

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full HNR profile View Profile

Highlands Natural Resources PLC Timeline

Related Articles

February 15 2019
ExxonMobil has made ten discoveries on the neighbouring Stabroek Block with an estimated 5bn barrels of oil
oil rig
February 27 2019
Gross production might hit 45,000 barrels per day by end 2019
January 21 2019
The company aims to expand its portfolio of hydrocarbon resources as it prepares oil and gas projects for production and continues its regional exploration work.
Copyright ©, 2019. All Rights Reserved - Proactive Investors North America Inc., Proactive Investors LLC

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use