Dome Energy gives operational update on increased production
Dome Energy AB. (herein after “Dome” and/or “the Company”) informs that the Company has increased the production by 48% from Q4 2016 to end of Q1 2017.
- Dome has increased its average gross Q4 production from 600 BOEPD (451 net) to 894 BOEPD (671 net) by the end of March 2017. The production comes from existing well bores that have been restarted and optimized.
- Dome has decided to immediately test the recently drilled Hager #39 well. This may delay the next drilling but the Company hope to de-risk the target zones as these are in close vicinity of each other.
Paul Morch, CEO: “We are happy to see that the efforts we are putting into our fields are paying off. Our operations in Texas and Wyoming have shown better result than expected and we aim to continue this trend. The investments done in Q1 should also allow us to show increased production from existing well bores in Q2. This increase in production is not including the Hager #39, that we have now decided to flow-test, neither does it include two recompletions that we have recently performed. We hope to add another 100-200 BOEPD by the end of Q2, in addition to the Hager well and any other new discoveries.”
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 April 10, 2017, 09:00 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.