Mainboard-listed oil exploration and production company Rex International Holdings has released its production update from its Norway and Oman oil fields for August.
According to the group, production from Norway and Oman totalled 11,631 barrels of oil equivalent per day (boepd) in August, down 8.54% m-o-m from the 12,717 boepd recorded in July.
In a Sept 11 announcement, Rex’s subsidiary Lime Petroleum AS (LPA) says production at the Brage and Yme Fields combined, net to LPA, stood at 8,658 boepd in August. This is down from 9,282 boepd in July.
Currently, LPA holds a 33.84% and 10% interest in Brage field and Yme field respectively. The operator of the Brage Field is OKEA ASA, while Repsol Norge AS operates Yme field.
LPA adds: “For both fields, there were scheduled and unscheduled shut-ins for well intervention, as well as other maintenance and technical well management and testing activities that were in the ordinary course of operations during the month.”
In a separate announcement, another Rex subsidiary, Masirah Oil Limited, says gross production from its Yumna Field in offshore Block 50 Oman amounted to an average of 2,973 stock tank barrels per day (stb/d) over the month’s 31-day production period. This is down from an average of 3,435 stb/d in July.
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MOL is the operator and holds a 100% stake in Block 50 Oman.
Shares in Rex International closed 0.2 cents higher, or up 2.11%, at 9.7 cents on Sept 11.
