Matra Petroleum's oil and gas production* in the second quarter 2018 increased by 27% to 744 barrels of oil equivalent per day ("boepd) (Q1 2018: 588 boepd)
In May, Matra launched a 24 well drilling program to be completed by yearend. To date, six wells have been drilled and so far four wells have been completed. Production from these new wells is expected to commence in July 2018.
"We are on track towards our target to double production by yearend. Newly drilled wells should come on stream shortly and contribute to further production growth. With increased production volumes Matra can capitalise on rising oil prices," says Maxim Barskiy, CEO of Matra Petroleum AB.
|Q2 2018 production*||Oil, bbl||Gas, Mcf||Total oil equivalent|
|Produced volume, gross||35,614||192,579||67,711|
|Average daily production, gross||391||2,116||744|
* Preliminary numbers, including production from newly acquired leases in the Texas Panhandle region and subject to gas shrinkage in processing.
For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95
This information is information that Matra Petroleum AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 11 July, 2018, at 10:30 CET.
About Matra Petroleum
Matra Petroleum AB (publ) is a Swedish independent oil and gas exploration and production company operating in the United States, where the company owns and operates 170 leases, covering an area of 45,640 net acres in the Panhandle region in Texas. Matra's reserves amount to approximately 25 million barrels of oil equivalent. Matra Petroleum 's shares are traded on NASDAQ First North in Sweden under the symbol MATRA. Mangold Fondkommission AB is Certified Adviser (www.mangold.se,
Tel: +46 (0) 8 50 30 1550). Web: www.matrapetroleum.com