Matra Petroleum AB: Operational update
Source: Matra Petroleum AB
October 17, 2018 03:45 ET
Matra Petroleum's total oil and gas production*, gross, in the third quarter 2018 increased by 25% to 76,814 barrels of oil equivalent ("boe") (Q2 2018: 61,530 boe). The average daily production increased to 835 barrels of oil equivalent per day ("boepd") (Q2 2018: 676 boepd). In early October, gross daily production reached 1,000 boepd.
In 2018, 16 new production wells have been drilled to date, out of which twelve have been put on production. Four wells are scheduled for completion later in October.
Consolidated oil and gas production, gross
| Oil | Gas | Total | Average daily production | |
| (bbl) | (MCF) | (boe) | (boepd) | |
| Q1-18 | 28,621 | 145,530 | 52,876 | 588 |
| Q2-18 | 32,020 | 177,061 | 61,530 | 676 |
| Q3-18* | 39,113 | 226,204 | 76,814 | 835 |
* preliminary numbers, based on estimated shrinkage in processing
Third quarter 2018 financial results will be disclosed on 23 November 2018.
For further information please contact:
Maxim Barskiy, CEO, Matra Petroleum AB
Tel.: +46 8 611 49 95
About Matra Petroleum
Matra Petroleum AB (publ) is a Swedish independent oil and gas exploration and production company operating in the United States, where the company owns and operates 170 leases, covering an area of 45,640 net acres in the Panhandle region in Texas. Matra's reserves amount to approximately 25 million barrels of oil equivalent. Matra Petroleum 's shares are traded on NASDAQ First North in Sweden under the symbol MATRA. Mangold Fondkommission AB is Certified Adviser (www.mangold.se, Tel: +46 (0) 8 50 30 1550). Web: www.matrapetroleum.com