Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Jupiter Energy generates US$1.7mln sales in latest quarter

Jupiter Energy generates US$1.7mln sales in latest quarter

Jupiter Energy (LON:JPRL) generated sales of US$1.7mln in its latest quarter on production of 51,000 barrels of oil from its Block 31 in Kazakhstan.

Sales for the three months to December came predominantly from the J-51 and J-52 wells, with a small quantity from the J-53 well during December and none from J-50, which required an amendment to its trial production licence.

Production averaged 638 barrels of oil per day (bopd) at an average price of US$33 at the well head.

Oil sales are currently being handled by two local trading companies but going forward Jupiter wants to sell directly into the pipeline or to a refinery nearer the field to reduce transport costs.

Oil sales achieved in 2013 overall totalled US$7.9mln based on sales of 240,500 barrels.

Jupiter said 2014 emission permits for wells J-50, J-51, J-52 and J-53 were received in late December and these wells are now on trial production. Revenues in 2014 will come largely from the J-50, J-51, J-52 and J-53 wells.

Broker finnCap added that when all necessary approvals have been received, the company will carry out testing of the Jurassic zone identified when drilling the J-59 well.

“The focus is now on completing a financing package to enable to company to commence its 2014 drilling programme and to continue its planning for the full field development.”

View full JPR profile View Profile

Jupiter Energy Limited Timeline

Newswire
September 16 2013

Related Articles

oil and gas operations
May 21 2018
The Alaska-focussed explorer is preparing to restart the Icewine-2 well testing programme which aims to be a commercial test of the HRZ shale discovery
Jack-up oil rig
February 14 2018
'Russia represents a major opportunity for the company'
oil and gas operations
February 26 2018
"This fundraise will represent another major step forward for Chariot, and one which allows the company to participate in two giant-scale wells in this calendar year"

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use