Dome Energy gives production update for November and December 2018
Dome Energy AB (publ) (herein after “Dome” and/or “the Company”) provides production update for November and December 2018, showing a daily production of 773 BOEPD and 900 BOEPD, before royalties.
Paul Morch, CEO: “we are pleased to report our production numbers for the month of November and December. In November we had an average production of 773 BOEPD. We saw a large increase in December, with an average of 900 BOEPD.” The large production increase is due to the first two wells of our fall drilling program coming online.
The Glaze 11-15 and Glaze 11-18, the first two wells in the latest drilling program, have been completed and are online. Production for the wells are at 110 BOPD and are expected to follow our established type curves. Dome has additional two wells drilled that is expected to be completed by the end of January. We have not pushed for these wells to start production, as we saw oil prices drop towards $40 per barrel in December.
We try to gather all data on time for public release, but we find that our numbers are inaccurate. We have ownership in more than 400 wells, where non-operated portion has some twenty different counterparts. The numbers we have presented through 2018 has proven to differ somewhat from the actual numbers. However, we intend to continue this reporting, but be patient with the accuracy of the data delivered.
During November the production of oil was 11,434 BOE and during December 14,777 BOE, an increase of 29%. During November the production of Gas/NGL was 11,743 BOE and during December 13,120 BOE, an increase of 12%. The total production during November was 23,177 BOE and during December 27,896 BOE, an increase in total of 20%. During November 49% of the total production was oil and under December the corresponding percentage was 53%.
The production numbers are presented in WI “Working Interest” calculated production, before taxes and royalties. Divested assets are excluded. Certain accruals have been made based on delayed revenue from non-operated assets.
Numbers are unaudited and not consolidated with Dome Energy AB.
For further information, please contact:
Paul Morch, CEO
Phone: +1 713 385 4104
E-mail: pm@domeenergy.com
The information was publicized, by the above contact person Januari 9th, 2019, 10:00 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, CA@mangold.se 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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