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Mosman Oil and Gas highlights production performance at Stanley project

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Mosman Oil and Gas Limited (LON:MSMN) has provided a further update on the Stanley project, in east Texas, which last week averaged 210 barrels of oil per day gross.

It outperforms the average rate of 139 bopd reported over the six months ended December 31.

The company noted that the Stanley-3 and Stanley-4 wells continue to produce oil without artificial lift – with the former yielding 50 bopd and the latter showing 120 bopd – whilst Stanley-1 is now operating with a pump-jack and last week yielded 40 bopd.

READ: Mosman shares tipped to double

A workover programme has begun for Stanley-1 to install a pump-jack.

Mosman noted that it is still anticipated that Stanley-5 will be drilled in the second quarter of the calendar year, after Stanley-1 is back on full production.

“Mosman has clearly set out a vigorous operational agenda for 2021, and the workovers at Stanley are an essential element to maintaining strong production,” said John Barr, Mosman chairman.

“As stated previously, Mosman has opportunities to participate in several potential wells in 2021.

β€œThe candidates for drilling include two wells at the Stanley project and other wells in East Texas, including wells at Cinnabar and the Galaxie well. The exact order and timing of wells has not been finalised and depends on the results of completion of the current round of detailed technical work.”

Mosman owns interests of between 16% and 18% in each of the Stanley wells.

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