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.
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