United Oil & Gas production boosted as ASD-1X gets greenlight

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United Oil & Gas PLC‘s (LON:UOG) Egyptian venture has been granted approval for a development lease to cover the ASD-1X discovery, part of the Abu Sennan Licence, which allows production operations to get underway.


Production starts from the ASD-1X well at an initial gross rate of 1,295 bopd, which is 285 bopd net to United. Meanwhile, a separate programme to workover the ASH-1ST2 well has also boosted production numbers, adding just over 1,000 bopd gross or 220 net to United.


United highlighted the rapid pace of progress at Abu Sennan where the ASD-1X well was drilled as recently as April.


“The speed at which the joint venture is developing Abu Sennan is demonstrative of the excitement we share for the long-term potential of the licence, which continues to deliver for the company,” said chief executive Brian Larkin. “We would also expect this result to add to the proven reserves on the licence.”


“In tandem with exploration success in Abu Sennan, the encouraging result from the ASH-1ST2 workover will provide a further boost to production, and will also help increase our understanding of the ASH Field.”


Larkin also highlighted that drilling is presently underway on the Al Jahraa-8 development well with results pending in due course.

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