Prospex Energy plc has more than doubled production and revenue from its producing assets with the start of gas sales from the completed Viura-1B development well in northern Spain. EXPANSION Flow testing is underway at rates of up to 500,000 standard cubic metres per day, (17.7 million standard cubic metres per day), with 72,000 scm/d (2.6 MMscfd) net […]
Tag: Prospex Energy plc
Prospex expects Viura revenue early December
Prospex Energy plc anticipates of flow testing and revenue in early December from the Viura-1B development well in northern Spain. PAYBACK Drilled by partner Heyco Energy Iberia SL (HEI), the well reached its revised targeted total depth of 4,500 metres in October in the 6-inch hole section of the bottom 450m of the well. The […]
Deeper drilling in Viura-1B ‘exceeds expectations’
Prospex Energy plc said that the Viura-1B development well had exceeded expectations with good gas shows and several potential reservoirs at the onshore field in northern Spain. INSPIRATIONAL Drilling began in June, reaching the new target total depth of 4,500 metres, approximately 4,100m true vertical depth, on 21 October. The well had encountered the main […]
Prospex to expand into Poland
Prospex Energy plc plans to expand its onshore oil and gas portfolio with exploration licences in Poland. EXPERIENCE The company said it had identified “attractive” prospective blocks with proven gas production, high potential prospectivity in the targeted geological horizons, and high potential to unlock new reserves to bring onstream within two to three years. The […]
Prospex issues 4.4m share options
Prospex Energy plc has granted a total 4.4 million share options in the company, at 6.4p per share representing a 9.4% premium, to directors and management. EXPIRY The new options awarded represent 1.09% of the total issued share capital of the company as on 2 October 2024. The total options now awarded to directors and […]
Viura-1B initial drill results exceed expectations
Prospex Energy plc reported “better than expected” preliminary results from drilling the Viura-1B development well in northern Spain. GAS SHOWS Drilling began on 22 June and has reached the reservoir with operations due to begin appraisal of a deeper section of the well. The company said that deeper appraisal could “significantly” increase revenues and create […]