Dome Energy AB Dome Energy gives production update for February and drilling update from Illinois Basin
Dome Energy AB. (herein after “Dome” and/or “the Company”) provides production update for February 2018, in which the Company produced 978 BOEPD before royalties, and drilling update from Illinois Basin.
- Dome Energy produced 978 BOEPD before royalties in the month of February. Production is now excluding properties sold in Louisiana, as previously announced. Certain accruals have been made based on delayed revenue from non-operated assets.
- Recently drilled Glaze 11-12 and 11-11 now on production, averaging 110 and 61 BOPD respectively over the last 14 days.
- Additional two wells scheduled for fracture stimulation this week.
- Currently drilling Walgrove 11-5, Dome’s fifth planned well.
- Estimate six new wells on production by the end of April.
Paul Morch, CEO: “We are pleased to announce our February production, which is more or less flat from previous month, but adjusted due to our recently sold well in Louisiana. We will now start to see larger increase in production pattern, as new wells come online in the Illinois Basin. Our first two wells are showing much higher initial production than any of our other wells in the basin. The Glaze 11-12 started flowing more than 300 BOPD, and once we installed an electric pump, we have seen a stabile production above 100 BOPD. The well has produced close to 2,000 barrels of oil in the first 14 days of production, which is twice as much as budgeted. The Glaze 11-11 has also produced over budget and is still continuing a solid production of more than 60 BOPD. Their production will have a solid impact on our monthly production numbers, and with several more wells coming on shortly, we hope to establish a new level of base production for the company.”
For further information, please contact:
Phone: +1 713 385 4104
This information is the kind of information that Dome Energy AB (publ) is obliged to publicize according to EU Market Abuse Regulations (MAR). The information was publicized, by the above contact person March 22, 2018, 15:45 CET.
About Dome Energy
Dome Energy AB. is an independent Oil & Gas Company publicly traded on the Nasdaq First North exchange in Sweden (Ticker: DOME). Mangold Fondkommission AB, phone: +46 8 503 01 550, is the Company’s Certified Adviser. Headquartered in Houston, Texas, the Company’s focus is on the development and production of existing onshore Oil & Gas reserves in the United States. For more information visit www.domeenergy.com.