Production November 2014

Bullet

Stavanger, 5 December 2014: Norwegian Energy Company ASA (Noreco) in November 2014 produced 2 969 barrels of oil equivalents per day (boepd) on average. Net realised price in November was USD 67.4 per barrel of oil equivalents (USD 70.3 per barrel of oil) after adjustments for inventory, NGL and gas prices.

Production per field, November 2014 (October 2014 in brackets)
All volumes in boepd

Huntington – 53 (1 100)
Cecilie – 310 (182)
Nini – 2 104 (1 722)
Oselvar – 459 (533)
Lulita – 43 (164)
Enoch – 0 (0)
Total – 2 969 (3 702)

As previously reported, gas export restrictions imposed by the Central Area Transmission System (CATS) resulted in almost no production from Huntington in November. The few barrels reported were produced during test-run of systems during the last weekend of the month.

Regular production and export through the CATS system was expected to resume on 5 December, but will be some days delayed according to the CATS operator.

In the Siri Fairway area, the Nini and Cecilie fields produced according to expectations in November. Lulita production continued to be affected by water treatment issues at the Harald production platform. The issues have been sorted out and regular production resumed 30 November.

The Oselvar field in Norway reported steady production through the month. Restart of the Enoch field has been delayed until first quarter 2015.

Contact:
Odd Arne Slettebø, CFO. Tel.: +47 992 83 900
Geir Arne Drangeid, IR contact. Tel.: +47 913 10 458
Or email: investorrelations@noreco.com
 

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act



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