Dome Energy gives production update for April and drilling update from Illinois Basin

Dome Energy AB (publ) (herein after “Dome” and/or “the Company”) provides production update for April 2018, in which the Company produced 1,049 BOEPD before royalties, and drilling update from Illinois Basin.

  • Production up 43% from June 2017, adjusted for sold assets post June 2017
  • Dome Energy produced 1,048 BOEPD before royalties in the month of April. Certain accruals have been made based on delayed revenue from non-operated assets.
  • All six recently drilled wells are now completed and producing
  • Peak production is expected during May and June 2018

Paul Morch, CEO: “We are proud to announce our production numbers for the month of April. The drilling program in the Illinois Basin is now complete, and we expect our “peak” production during May and June. We are continuing our organic growth, as shown in the chart below, which has been adjusted for all assets sold, and previously made accruals. Our BOEPD has increased some 43% from June 2017 to April 2018. All of this increase has come from pure oil production, adding more than 10,000 barrels of oil per month. We will continue our drilling after the summer, and we will update on specifics regarding the program.”

6-17 7-17 8-17 9-17 10-17 11-17 12-17 1-18 2-18 3-18 4-18
Monthly Oil Production 7 610 7 569 7 131 8 765 10 363 14 157 16 242 12 002 12 617 17 098 17 256
Monthly BOE, Gas/NGL 14 460 15 577 14 063 13 134 15 127 13 886 13 898 13 099 13 205 13 932 14 229
Monthly Total Production 22 070 23 146 21 194 21 899 25 490 28 043 30 139 25 101 25 821 31 031 31 484
Oil % 34% 33% 34% 40% 41% 50% 54% 48% 49% 55% 55%
Gas % 66% 67% 66% 60% 59% 50% 46% 52% 51% 45% 45%

*Units are in BOE
*Excludes assets that where divested
 
For further information, please contact:

Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com 

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 May 16, 2018, 08:30 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.

Tags:

Subscribe

Documents & Links