With the two new Tambar wells now onstream, the Tambar field has produced 18.5 mboe/d gross (Faroe WI: 45%). Even adjusting for 85% uptime, this would imply 7.1 mboe/d net to Faroe which is above the company expectations of 4.50-6.75 mboe/d. Faroe production on 20/04/2018 stood at 19.3 mboe/d, which compares to our forecast of 13.5 mboe/d over 1H18 and 14.2 mboe/d in 2H18. While Faroe has reiterated its FY18 production guidance of 12-15 mboe/d, we believe it could be increased. However the st
27 Apr 2018
FLASH: Tambar production above expectations
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FLASH: Tambar production above expectations
Faroe Petroleum (FPM:LON) | 0 0 (-0.4%) | Mkt Cap: 371.0m
- Published:
27 Apr 2018 -
Author:
Stephane Foucaud -
Pages:
2
With the two new Tambar wells now onstream, the Tambar field has produced 18.5 mboe/d gross (Faroe WI: 45%). Even adjusting for 85% uptime, this would imply 7.1 mboe/d net to Faroe which is above the company expectations of 4.50-6.75 mboe/d. Faroe production on 20/04/2018 stood at 19.3 mboe/d, which compares to our forecast of 13.5 mboe/d over 1H18 and 14.2 mboe/d in 2H18. While Faroe has reiterated its FY18 production guidance of 12-15 mboe/d, we believe it could be increased. However the st