Mosman Oil and Gas Ltd (AIM:MSMN)’s net production totalled 2,725 barrels of oil equivalent (boe) (circa 30 boe per day) in the three months to end-December versus net production of 3,564 boe (circa 39 boepd) in the prior September quarter.
The lower production rates were primarily due to changes in production infrastructure and managing sand produced with the oil at Stanley, said Mosman, which should facilitate higher production rates in 2024.
Average sale prices achieved during the period were US$76.22 per barrel for oil and US$2.37 per MMBtu for gas (September quarter was US$81.47 and US$2.22 respectively) after transport and processing costs but before royalties.
Andy Carroll, CEO, said: "This has been a busy period at Stanley with downhole operations and reconfiguration of surface equipment a priority, which should see higher production. Going forward, Cinnabar will be the priority area for the year ahead."