United Oil & Gas Plc has provided an operational update on the P1918 licence in the Wessex Basin and specifically the Colter appraisal campaign which has included the Colter North and the new Colter South prospects.
Significant increase in production rate at Norio wells 44 and 27, moving the combined current production rate at the Norio and Satskhenisi fields towards 60 bpd, a four-fold increase.
According to Rystad Energy, this turnaround is made possible by the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.