United Oil & Gas has announced that production remained within guidance following an increase from its Abu Sennan interest, onshore Egypt. PRODUCTION The company holds a 22% working interest in the licence which is operated by Kuwait Energy Egypt. In its fourth quarter results for 2020, United reported its second half net working interest averaged […]
Tag: Abu Sennan – Egypt
United aims to exceed production guidance
United Oil & Gas plc announced it expected to exceed the previous guidance of 2,300 boepd when the company starts drilling at its joint venture Abu Sennan licence, onshore Egypt. DRILL CAMPAIGN The company said it had awarded an EDC-50 rig contract with low-cost rig rates linked to oil prices. The rig is due to […]
United H1 success secured by Egyptian assets
United Oil & Gas plc reported a successful first half of 2020 with group revenue of $2.4 million (£1.86m) and gross profit of $0.3 million (£0.23m) due to the company’s integration of its Egypt assets. Interim results showed profit after tax at $1.8 million (£1.4m) with realised oil price of $28.26/bbl. Cash collections in the […]