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Atlantic Petroleum P/F — Earnings Release 2014
Jul 15, 2014
8209_iss_2014-07-15_56a49502-c422-4489-9dd0-67b80b9ae467.html
Earnings Release
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Blackbird Field 2nd production well tested
Blackbird Field 2nd production well tested
Tórshavn, Faroe Islands, 2014-07-15 09:47 CEST (GLOBE NEWSWIRE) --
Atlantic Petroleum (NASDAQ OMX: ATLA DKK & Oslo Stock Exchange: ATLA NOK) today
announces that the initial production testing from the Blackbird Field second
production well, 20/02a-B3, has achieved sustained rates of over 7,000 bbls/day
(c. 660 bbls/day net to Atlantic Petroleum), which was constrained by surface
equipment. The well is being drilled and tested using the Noble Ton V Langeveld
drilling rig. It will now be tied into the Aoka Mizu FPSO facilities and full
production will commence following the ongoing planned shutdown.
The Blackbird Field is owned by Nexen Petroleum U.K. Limited (Operator)
73.02957%, Nexen Ettrick U.K. Limited 17.57270% and Atlantic Petroleum UK
Limited 9.39773%.
Ben Arabo, CEO, commented:
?We are very pleased with the well test results from the B3 well and look
forward to the production boost when the tie-in is completed.?
Atlantic Petroleum in brief:
Atlantic Petroleum is a full cycle exploration and production (E&P) Group
focused on North West Europe. Atlantic Petroleum currently holds 45 oil and gas
licences in the UK, Norway, Faroe Islands, Ireland and the Netherlands, and has
three fields in production in the UK part of the North Sea. In addition to
this, the Group has one field under development with first oil expected in
2016, two additional potential development projects and a substantial number of
exploration prospects. Atlantic Petroleum participates in joint ventures with
30 reputable, international partners. Atlantic Petroleum?s main office is
located in Tórshavn, Faroe Islands, and the Company has subsidiaries and
technical offices in London, UK and Bergen, Norway. Atlantic Petroleum?s
existing shares are listed on NASDAQ OMX Copenhagen and on Oslo Stock Exchange.
Further Details:
Further details can be obtained from Ben Arabo, CEO, tel +298 350100
([email protected]). This announcement will be available, together with
other information about Atlantic Petroleum, on the Company's website:
www.petroleum.fo.
On the website, it is also possible to sign up for the Company?s e-mail
newsletter.
Announcement no.31/2014
Issued 15-07-2014
P/F Atlantic Petroleum
Yviri við Strond 4
P.O. Box 1228
FO-110 Tórshavn
Faroe Islands
Telephone +298 350 100
Fax +298 350 101
Website: www.petroleum.fo
E-mail: [email protected]